The European Central Bank just announced a €60 billion per month bond buying program.
Following this announcement, Deutsche Bank economist Torsten Slok circulated an email with the following chart, showing who own the debt of some of the world's biggest economies, including several members of the eurozone who will participate in this QE program.
Slok first circulated this chart back in December, making these points on who own this debt at the time:
- Foreign central banks hold a very small share of Japanese and Italian government bonds.
- Of Greece, Portugal, and Ireland, foreign nonbanks hold the biggest share of Irish government debt.
- In Italy and Spain, domestic banks hold a significant share of their government debt.
And so after Thursday's big announcement, here's your friendly reminder:
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Deutsche Bank