ECB and Bundesbank square off over bond-buying plan

The European Central Bank vigorously defended its bond-buying programme in a German courtroom on Tuesday, arguing that the scheme many credit with saving the euro from collapse was within its mandate and had not spawned unlimited risks.

ECB policymaker Joerg Asmussen, who put the case for the central bank, received strong backing from the German government. But he had to watch as his colleague Jens Weidmann, president of the Bundesbank, attacked the plan in a rare public clash between Germany’s top monetary policymakers.

via Business feed http://www.scmp.com/business/economy/article/1259083/ecb-and-bundesbank-square-over-bond-buying-plan