Skip to comments.EU: Bundesbank chief Jens Weidmann 'considered resigning over ECB bond buying'
Posted on 08/31/2012 1:40:34 AM PDT by bruinbirdman
Bundesbank chief Jens Weidmann considered resigning several times because of his opposition to a new bond-buying plan by the European Central Bank but was persuaded by the German government to stay, according to reports.
Citing financial sources, Bild newspaper said Mr Weidmann had mentioned his possible resignation to a small circle of people at the very top of the Bundesbank, but the government had urged him to stay.
The Bundesbank was not immediately available for comment, Reuters reported.
Bild said Mr Weidmann had decided against standing down for now and wanted to fight against the planned bond-buying programme at the ECB's September 6 policy meeting.
Sources said he felt he could contribute more this way to stability in the eurozone and to upholding the independence of the ECB.
ECB President Mario Draghi is expected to detail the new bond-buying plan to lower the borrowing costs facing Spain and Italy, after the September 6 meeting.
Draghi wrote in an opinion piece in Die Zeit newspaper on Wednesday that the ECB must employ "exceptional measures" at times to fulfil its mandate of delivering stable prices.
Earlier, Weidmann had told Der Spiegel magazine that the bond-buying plan verged on the bank's taboo
(Excerpt) Read more at telegraph.co.uk ...
Central bank bond buying is nothing but money printing. It is plain evil.
Don’t sell your soul, Jens. Resign.
A little more native perspective would be appreciated.
ESM—Test your stupidity!
Stop EU dictatorship. For family, people, and homeland!
It sure does feel like something is growing here. I haven’t seen so many people this angry at the entire system since the protests that brought down communist East Germany. Wait and see…