BERLIN (MNI) – German Finance Minister Philipp Roesler on Thursday
criticized the purchases by the European Central Bank of bonds of highly
indebted Eurozone member states.
“I dare to doubt that it was smart to take pressure off states [to
consolidate their budgets] by purchasing bonds,” Roesler said in a
speech at a conference here.
He deplored that Germany is regularly outvoted in the ECB Governing
Council on the issue of the bond purchases.
The minister reaffirmed his demand for EU treaty changes which
would allow the European Commission to take stiffer action against
member states violating the deficit rules.
Roesler once again called for the introduction of an orderly
insolvency procedure for states at the European level. He also urged all
member states to introduce debt brakes in their countries similar to
Germany’s.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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