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Weidmann tries to muffle not spike Draghi's ECB guns
Isolated but unbowed, German central bank chief Jens Weidmann is using all the soft power he can muster to stop the European Central Bank sinking into the political quagmire he fears from a new round of sovereign bond buying. Weidmann is worried a plan ECB President Mario Draghi has hatched for the central bank to buy the sovereign bonds of Spain and Italy to lower their crippling borrowing costs would ease the pressure on those countries to put their finances right. Such a plan also risks dragging the ECB into the business of financing governments, in which it is supposed to play no part. Weidmann, who took the ... (full story)