ECB policymakers have no plan to discuss emergency purchases of French bonds

Reuters citing 5 unnamed sources for this info:

European Central Bank policymakers have not discussed emergency bond purchases for
France

Have no immediate
plan to debate using TPI for france

Some ECB policymakers would wait until new French govt is formed before any
discussion about TPI

**

What is TPI?

ECB’s Transmission Protection Instrument (TPI) allows it to buy unlimited
amounts of bonds from a country. This could be done if a country came under excess market pressure. In the case of France the context is the snap election called by the President last weekend (Sunday the 9th June ICYMI). This has seen a sell-off of French bonds due to market fears over a far-right government winning the election.

This article was written by Eamonn Sheridan at www.forexlive.com.