Bundesbank Head Said to Have Threatened Resignation Over Bonds
Jens Weidmann, president of Germany’s Bundesbank, reportedly threatened to resign over the issue of bond purchases by the ECB, according to a German tabloid.
ECB Battle: Draghi vs. Weidmann
ECB President Mario Draghi is challenging Bundesbank President Jens Weidmann’s opposition to a plan for the ECB to reenter the bond markets.
Draghi’s Dilemma: ‘Whatever it takes’ Could Alienate Fellow ECB Members
Mario Draghi, president of the ECB, may have painted himself into a corner with his London speech on Thursday promising to do “whatever it takes” to rescue the euro.
ECB Gets Two New Members
The European Central Bank gained two new members on Jan. 1, and which of them will accede to the position of chief economist, vacated by Juergen Stark in 2011, remains to be seen.
Eurozone Ministers Debate Stability Plan
Eurozone finance ministers gathered in Luxembourg on Monday to discuss ways to leverage the European Financial Stability Facility and also to put pressure on Greece to implement additional financial reforms to try to jumpstart its shrinking economy.
German Rift Threatens Euro Zone
Juergen Stark's sudden departure from his post at the European Central Bank (ECB) over the issue of buying bonds from troubled euro zone countries has led to wider problems, both in the zone and at home in Germany.
EU, IMF Deny Greek Restructuring Rumors; Markets Wary
Although rumors of restructuring Greece's debt have been denied by Greece itself, the European Union (EU) and the International Monetary Fund (IMF), investors don’t believe them.