put itself at the back of the queue

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Jacob_Bai

New Member
Chinese - English & German
Article: Draghi kills hopes of instant ECB action
Writter: Claire Jones, Miles Johnson,Mary Watkins in Frankfurt, in Madrid, in London
Source: Financial Times
Date: 08/03/2012

Sentence: But a determined Mr Draghi also said the ECB would devise a plan to buy bonds in order to combat “exceptionally high” risk premiums for some eurozone countries, while easing private investors’ fears about the ECB putting itself at the back of the queue for absorbing any losses on investments.

Dear all,

What't the exact meaning of 'put itself at the back of the queue' in this sentence? I used to think it might suggest that the ECB doesn't want to take responsibility for absorbing any losses on investments. But I am not quite sure of that. Could you help me out, please?

Thank you!
 
  • Copyright

    Senior Member
    American English
    What't the exact meaning of 'put itself at the back of the queue' in this sentence? I used to think it might suggest that the ECB doesn't want to take responsibility for absorbing any losses on investments. But I am not quite sure of that.
    I think your interpretation is correct.

    To put yourself at the back of the queue means to go to the back of the queue/line and have your turn later than those nearer the front of the queue. In this case, the queue is for banks to absorb losses on investments -- something that no bank wants to do. So investors feared that the ECB wouldn't "step up" and accept responsibility and absorb losses, but would try to put off this action.

    Welcome to the forum. :)

    Your source information is the best I've ever seen for a first-time poster and is most helpful. Thank you.
     
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