The Bundesbank is Still Considered to Be Opposed to a Bond Buying Plan, Rumors Float of Resignation Over Discord

“Germany’s Bundesbank declined to be drawn on whether President Jens Weidmann considered resigning over the European Central Bank’s plan to resume bond purchases, as tension between the two institutions mounts.

The Frankfurt-based Bundesbank has “no comment” on the report in today’s tabloid Bild newspaper, spokesman Michael Best said in a text message. Weidmann made his position clear in an interview with Der Spiegel magazine published Aug. 26, Best said.

Weidmann has considered quitting over the ECB’s plan to start a new round of sovereign bond purchases and discussed stepping down with the Bundesbank board, Bild said, citing unidentified people with knowledge of the situation. Weidmann, the only ECB council member opposed to the plan, has decided to remain in his post to defend his position at next week’s policy meeting, the newspaper said.

The euro declined to as low as $1.2493 this morning from $1.2520 overnight.”

Full article