Lautenschlager, Mersch and Coeure oppose Draghi’s QE plans – Welt

Author: Adam Button | Category: Central Banks

Die Welt reports that ECB executive board members Lautenschlager, Mersch and Coeure oppose Draghi’s QE plans.

The story also notes that in the rest of the 24-member Governing Council there more votes (note the plural) against it, including Weidmann.

Update, here is the translation of the relevant part:

According to information from the Die Welt, resistance to Draghi is now larger than previously thought. He can no longer count on a majority within the Board currently manifest. In the vote on the official opinion of the Governing Council on monetary policy are for information of Die Welt, three of the six directors supported by the President to the original tune.

As it says in central bank circles, agreed next Sabine Lautenschlager and Yves Mersch, who had already previously expressed skepticism about bond purchases, the Frenchman Benoît Coeuré against Draghi course.

So that the bearing internal opponents Draghi grows short before a possible decision on a large-scale government bond program. The stalemate in tight leadership circle of the ECB is a first in the range of controversial decisions euro crisis. Dissenting voices within the Board there had been several times, but always had a majority behind the President.

The story sounds fairly hawkish, but I don’t read German.

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