Weidmann says sovereign bond purchases are ‘sweet poison’ for governments
Acknowledges the ECB’s OMT announcement ‘calmed investors’
Jens Weidmann, the Deutsche Bundesbank president, voiced his opposition to sovereign bond purchases last night, describing them as "sweet poison for governments" at a conference in Croatia.
He accepted the European Central Bank's outright monetary transactions (OMTs) had "calmed investors' fear of losing money" but insisted that buying bonds is "not without risks".
"You may know that I was not in favour of this measure," he said. "They bring monetary policy very close to monetary financing of
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