Speaking in NYC, the ECB's Jens Weidmann argues against monetary policies such as bond purchases...


Speaking in NYC, the ECB's Jens Weidmann argues against monetary policies such as bond purchases which obscure "market interest rates (that) are an important signal for governments ... markets don't always get it right ... (but) their signal is still the most powerful initiative we have."

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  • Tombaum eister
    , contributor
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    I am afraid Mr Weidmann lives in a surreal world trying to uphold the credentials of the Bundesbank, but ignoring the fact that Germany's fate is tied to the economic recovery of the Eurozone. If Weidmann directed ECB policy, there would be no bond purchases, no LTRO , no quantitative easing and higher interest rates. I believe Weidmann needs some lessons from Ben Bernanke who has the accademic credibility to teach him some insight into the monetery reasons of the Great Depression. Weidmann should familiarise himself with this topic and maybe he would be intellectually capable of a turnaround in his lopsided and distorted views of the Eurozone's problems. If Weidmann is not kept in check, he and the Bundesbank will be one of the main contributors of the Euro's demise and the global crises it will spark throughout the financial system!
    23 Apr 2012, 12:59 PM Reply Like
  • Losing Paper While Gaining ...
    , contributor
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    The more you explained that, the more I liked the idea of Weidmann directing ECB policy.

     

    We've now got zombie countries, containing zombie banks, the survival of both being based on a circlejerk system of buying and selling bonds and bailing out countries/banks.
    23 Apr 2012, 01:05 PM Reply Like
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