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Ifo’s Sinn Urges German Government to Oppose ECB Buying

Hans-Werner Sinn, president of Germany’s Ifo economic institute, urged Angela Merkel’s government to take action against an asset-purchase program announced by the European Central Bank.

“These purchases are not covered by the mandate of the ECB because they are a fiscal and not a monetary-policy measure,” Sinn said in an e-mailed statement. The German government “is obliged to take active steps against it, and if it doesn’t, every citizen is able to sue at the Federal Constitutional Court for it to do so,” he said.