FRANKFURT (Reuters) - Otmar Issing, one of the founding fathers of the euro and a former European Central Bank chief economist, said the ECB and Germany’s Bundesbank should put their dispute over the ECB’s new government bond purchase program to rest.
“One can only hope that this conflict comes to an end,” Issing told Swiss website cash.ch in an interview published on Wednesday. “And by the way, I can’t imagine that all other Governing Council members are fine with the situation.”
ECB President Mario Draghi singled Bundesbank President Jens Weidmann out as the only Governing Council member who opposed the ECB’s new bond buying scheme, which Weidmann regards as being tantamount to financing governments by printing banknotes.
Reporting By Eva Kuehnen; Editing by Toby Chopra