Schaeuble : I don't agree with the German Court on ECB

16 Aug 2017 10:27 AM

Wolfgang Schaeuble, German finance minister made the following statements:

  • I think that ECB is committed to its mandate.
  • I don't agree with the view of German Constitutional Court that ECB violates the monetary financing laws.
  • ECB is using tools available to fulfill its difficult task of setting monetary policy for many different countries.
  • It wasn't useful to discuss about the independence of ECB monetary policy to mention Jens Weidman, Bundesbank president as a potential ECB successor to Mario Draghi.

The German Constitutional Court announced yesterday that ECB may violate the ban on governments funding through its extensive asset purchase program that worth 2.3 trillion euros, and asked the ECJ to decide on the matter.

Tags: ECB ECJ Euro

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