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Euro Fireworks Ahead—-Draghi On Collision Course With German Central Bank Chief
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
davidstockmanscontracorner.com / By Mehreen Khan at The Telegraph /
Germany’s powerful central bank chief has said quantitative easing is no longer appropriate for Europe, putting Berlin on a collision course with the European Central Bank over expanding stimulus measures to revive the single currency area.
Jens Weidmann, head of the Bundesbank and a member of the ECB’s governing council, said QE was “no longer necessary” for the eurozone, despite the widespread expectation that more stimulus will be announced as early as next month.
However, Mr Weidmann defended the ECB’s bond-buying scheme – launched in March last year – at a hearing at the German Constitutional Court on Tuesday, arguing that it did not contravene the principles of the German constitution.
But his resistance to expanding QE suggests the ECB’s hawkish members are hardening in their stance against expanding the stimulus programme from its current €60bn a month.
Crucially, Mr Weidmann will not be able to take part in the March vote under the ECB’s rotating voting rules.
The post Euro Fireworks Ahead—-Draghi On Collision Course With German Central Bank Chief appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/18/euro-fireworks-ahead-draghi-on-collision-course-with-german-central-bank-chief/
