The German central bank chief is comparing ECB Draghi’s recently announced bond buying programme with Goethe’s classic ‘Faust’

Without specifically mentioning Mario Draghi’s bond-buying programme, he said: “If a central bank can potentially create unlimited money from nothing, how can it ensure that money is sufficiently scarce to retain its value?” He added: “Yes, this temptation certainly exists, and many in monetary history have succumbed to it,” Mr Weidmann warned.

Louise Armitstead in today’s Telegraph