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Wednesday, August 01, 2012

Bundesbank Challenges ECB To Pissing Contest

In an interview conducted in June, but "conveniently" published on the Bundesbank's website today, the Bundesbank president Jens Weidmann has stressed that the ECB should not exceed its mandate.

He also noted that the Bundesbank is more "important" than others in the eurozone.

The Telegraph quotes him:
"[The ECB] must be aware that its independence obliges it to respect its own mandate and not to exceed it. 

We are the largest and most important central bank in the Eurosystem and we have a greater say than many other central banks in the Eurosystem."
It seems that the Bundesbank has just challenged the ECB to a pissing contest!

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