Schaeuble Warns Against Expecting too Much of Draghi’s Plans
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German Finance Minister Wolfgang Schaeuble warned against placing too much faith in the European Central Bank’s bond-buying plans as pressure grows on Spain and Italy to decide whether to seek help to lower borrowing costs.
Whatever proposals ECB President Mario Draghi announces on Sept. 6 must fall within the central bank’s mandate, Schaeuble said in an interview today on Deutschlandfunk radio. Germany won’t accept ECB financing of state budgets, he said.