The ECB publishes a breakdown of its purchases under the Pandemic Emergency Purchase Programme (Pepp), which was launched in late March to combat the effects of the coronavirus pandemic. Unlike the Public Sector Purchase Programme, the Pepp may deviate from the ECB’s capital key in terms of how it allocates its buying between member states. This chart shows the extent of these deviations, and that its buying has proportionally favoured the eurozone perihpery: Portugal, Italy, Greece and Spain.
