Yesterday, according to Bloomberg during the Central Bank meeting, all board members received a written plan conducted by the National Documentation Centre, with the basic provisions for the interventions to be made.

According to further information of the agency, the plan provides for the purchase of government bonds to the amount of 500 billion euro.

However, these purchases will target bonds that have “investment grade”, for example the evaluation to be at least “BBB-“. This means that Greek bonds stay out of the program, with evaluation “B” and the bonds of Portugal with evaluation “BB” and Cyprus “B +”.

As Bloomberg notes, the plan was presented to the central bankers without any decisions made on the design or implementation of the package.

Furthermore, it was not requested by the central bankers to express an opinion on the existing options.

Finally, what the analysts of Commerzbank consider as a final solution that is most likely to happen, is that the ECB will shift responsibility for the government bonds market to the national central banks without the exclusion of countries.