Leaked documents show ECB plans to reduce its quantitative easing program drastically

By in

Cyprus banks may face tough times ahead regarding reducing the islands NPLs (non-performing loans) if the European Central Bank decided to advance with plans to reduce its proposed expanded asset-purchase program, financial experts have said. An internal EU document has been leaked with the proposed cutbacks, which show the EU stock purchasing scheme will be axed by one quarter each financial year (the EU is currently spending €80B a month).