"Yesterday we wrote about how Monday will prove to be an important day for the Eurozone crisis, as we will see if the ECB is going to intervene to suppress Italian yields, now that Berlusconi has quit.
Obviously the drumbeats are growing louder for the central bank to become a lender or at least yield-setter of last resort.
But this is the kind of thing that makes Germans sick to their stomach, as they hate the idea of money printing and inflation and rescuing governments that have been profligate.
So they're pre-emptively revolting.
The FT has just posted an interview with Jens Wiedmann, the head of the Bundesbank (Germany's central bank). The whole thing is a huge pushback against the idea that the ECB should do anything except ensure price stability.
Here's a few key questions:..."
at http://www.businessinsider.com/ft-interview-with-jens-weidmann-2011-11?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1dcHDB3vT
Obviously the drumbeats are growing louder for the central bank to become a lender or at least yield-setter of last resort.
But this is the kind of thing that makes Germans sick to their stomach, as they hate the idea of money printing and inflation and rescuing governments that have been profligate.
So they're pre-emptively revolting.
The FT has just posted an interview with Jens Wiedmann, the head of the Bundesbank (Germany's central bank). The whole thing is a huge pushback against the idea that the ECB should do anything except ensure price stability.
Here's a few key questions:..."
at http://www.businessinsider.com/ft-interview-with-jens-weidmann-2011-11?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1dcHDB3vT
