"The open feud between the German Central Bank and the ECB widened
significantly. Making matters even worse Chancellor Angela Merkel is also in an
open feud with the Bundesbank.
Please consider, Top German central banker slams debt crisis steps
Please consider, Top German central banker slams debt crisis steps
Germany's top central banker warns that efforts to halt the debt crisis in Europe could give countries incentives to run up deficits in the future.at http://globaleconomicanalysis.blogspot.com/2011/09/germany-central-bank-president-slams.html
The statements by Bundesbank president Jens Weidmann underline his differences with German Chancellor Angela Merkel and his fellow board members of the European Central Bank.
Weekend meetings of global financial leaders in Washington raised hopes of a change in strategy, with officials indicating that would focus on further boosting the firepower of the euro440 billion ($595 billion) rescue fund -- perhaps by allowing it to tap loans from the European Central Bank or otherwise leveraging its lending capacity.
Hopes for such a move boosted European stock markets on Monday, with German and French bank shares rising strongly.
However, ahead of a parliamentary vote Thursday on changes to the fund that eurozone leaders already agreed to in July, Berlin was keen to underline its attachment to its often-criticized step-by-step approach..."
