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Weidmann: independence of the ECB requires it to respect and not overstep its own mandate (Bundesbank)

In a clear sign of opposition to bold moves by the ECB, the Bundesbank has published today an interview with Jens Weidmann, from June 29, where the President of the German central bank stresses the importance and limitations of the independence of the ECB.

Jens Weidmann, President of the Deutsche Bundesbank:
"The founding fathers of the EU treaties evidently took a sceptical view of the political will, and it is precisely for this reason that they made the central bank independent in order to protect it from a lack of or a conflict of political will. But the central bank must use and maintain this protection. Furthermore, it should be aware that this independence also requires it to respect and not overstep its own mandate."
source: 55 years for stability | Bundesbank

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