La risposta della Bundesbank

Durissimo comunicato della Bundesbank a proposito dell'iniziativa di oggi annunciata dall'Eurosistema:

FRANKFURT (MNI) -"In the most recent discussions, as before, Bundesbank President Jens Weidmann reiterated his frequently substantiated critical stance towards the purchase of government bonds by the Eurosystem.
He regards such purchases as being tantamount to financing governments by printing banknotes. Monetary policy risks being subjugated to fiscal policy. The intervention purchases must not be permitted to jeopardise the capability of monetary policy to safeguard price stability in the euro area.
If the adopted bond-purchasing programme leads to member states postponing the necessary reforms, this will further undermine confidence in the political leaders' crisis-resolution capability. This underscores the crucial importance of ensuring both credibility in the promised conditionality and the resolute determination to immediately terminate intervention purchases if the underlying conditionality is no longer assured.
The announced interventions in the government bond market carry the additional danger that the central bank may ultimately redistribute considerable risks among various countries' taxpayers. Such risk-sharing, however, can be legitimately authorised solely by democratically elected parliaments and governments."