Bundesbank Maintains Opposition to ECB Bond Buying

German Chancellor Angela Merkel and French President Francois Hollande stressed Friday that they will "do everything" to defend the euro zone and urged all European institutions to "fulfill their obligations," as reports in the French press suggested the European Central Bank is preparing to buy more government bonds.

But Germany's central bank reiterated its opposition to any more government bond purchases by the ECB.

In a joint statement, Ms. Merkel and Mr. Hollande--the leaders of the euro zone's two largest economies--said they are "determined to do everything to defend...the integrity of the euro zone."

"The member states and the European institutions should fulfill their obligations to this end, each according to their prerogatives," the statement said.

Read Full Article from Wall Street Journal

- Posted: 2012-07-27 11:58:26

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