Trichet Denies Criticism ECB Bond Purchases are Money Printing
This article is for subscribers only.
European Central Bank President Jean-Claude Trichet rebuffed criticism that the bank is printing money as it buys government bonds from distressed euro region countries.
“This criticism is completely inaccurate,” Trichet said in an interview with Germany’s Welt newspaper to be published tomorrow. “We are fiercely independent of governments and pressure groups. We are totally devoted to our primary Treaty mandate of price stability,” he said, according to a transcript provided by the ECB.