The Bundesbank rejects (for what must be the 50th time) a plan from Mario Monti for the ECB to...


The Bundesbank rejects (for what must be the 50th time) a plan from Mario Monti for the ECB to purchase peripheral sovereign debt in the secondary market, reports FT Deutschland. "This would be monetary financing of government(s) and therefore a breach of EU treaties," says the Buba. The euro takes a new leg down, off 1.3% to $1.2539.

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Comments (3)
  • Losing Paper While Gaining ...
    , contributor
    Comments (488) | Send Message
     
    treaties? TREATIES? Don't they know that (insert bad things) are happening!?!

     

    I wish they'd just have the guts to say "no, we're not bailing your incompetence out any more" and not hide behind "EU treaties" which, by their own writing, can be altered without all parties agreeing to them.
    21 Jun 2012, 03:28 PM Reply Like
  • davidingeorgia
    , contributor
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    And treaties have been altered already - when the right set of countries want them altered. Heck, it's not like they're really democracies anymore.
    21 Jun 2012, 03:35 PM Reply Like
  • StephanieKing
    , contributor
    Comment (1) | Send Message
     
    the Bundesbank has no compunction about quietly buying bonds on secondary markets when it comes to GERMAN bunds
    22 Jun 2012, 02:09 AM Reply Like
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