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Ex-ECB's Stark: ECB Will Lose Grip On Price Stability With Bond Buys
The European Central Bank will be overextended and no longer able to fulfill its price stability mandate if it engages in more sovereign bond buys, former ECB Executive Board member Juergen Stark wrote in an editorial for German daily Handelsblatt Tuesday. Stark, who resigned from the ECB in 2011, in large part because of the original SMP bond-buying program, said restarting such a program would lead to inflation dangers down the road and further erode the ECB's political independence. Stark accused the ECB Governing Council members from southern peripheral Eurozone countries of trying to use the ECB to achieve ... (full story)
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