There is no limit to the European Central Bank's bond-buying programme, the bank said yesterday, a day after France's President Francois Hollande announced Europe's debt crisis was over.
The German newspaper Frankfurter Allgemeine Sonntagszeitung yesterday quoted central bank sources as saying the bank had set a limit of €524 billion (HK$5.38 trillion) on the Outright Monetary Transactions scheme.
The bank had also informed Germany's constitutional court, which will weigh the scheme's legality on Tuesday and Wednesday, of that limit, it said.
However, the ECB said: "The report is incorrect. As indicated on various occasions, there are no ex-ante limits on the amount of Outright Monetary Transactions. Their size would be adequate to meet their objectives."
Meanwhile, Hollande told an audience in Japan during a state visit: "You must understand that the crisis in the euro zone is over."
Hollande's comments came a week after thousands of people took to the streets of European cities to vent their anger at the "troika" of international powers whose insistence on austerity is blamed for worsening their economic hardship.