Weber Says ECB Should Stop Bond Purchase Program Now
This article is for subscribers only.
European Central Bank Governing Council member Axel Weber said the ECB should stop its bond- purchase program, threatening to remove a lifeline for European governments and banks trying to shore up their finances.
“These securities purchases should now be phased out permanently,” said Weber, who also heads Germany’s Bundesbank, in a speech delivered in New York yesterday. With policy makers debating when to withdraw other emergency measures, Weber said the risk of “exiting too late” is greater than the danger of “exiting too early.”