Draghi Courts Bundesbank in Bid to Avoid Trichet’s Bond Fate

Mario Draghi knows he can’t afford to repeat Jean-Claude Trichet’s mistake.

A month into his term as European Central Bank president, Draghi is being careful not to alienate Bundesbank chief Jens Weidmann, a vocal opponent of the ECB’s bond purchases. As Europe’s sovereign debt turmoil enters what could be its decisive days, Draghi needs to keep Germany’s central banker onside for any expansion of the ECB’s crisis-fighting role, say economists from Barclays Capital to Societe Generale SA.