Weidmann gets off a good line

Author: Jamie Coleman | Category: Central Banks

“We should listen to the markets but not necessarily do what they say”.

One of the better lines of the crisis…

  • If central banks allow politicians to use their balance sheets, pressure to reform will disappear
  • Fiscal and monetary policy is being completely blurred and could erode public support for the euro
  • Doesn’t think a “bazooka” bailout fund would work in Europe (referring to Paulson’s actions in the summer of 2008)

German officials have been very reluctant to ramp-up the bailout machine further for fear of undermining what little fiscal probity remains in the peripheral nations of Europe.

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