German rumours of French pact with ECB display tensions

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Allegations in the German press that the European Central Bank (ECB) has taken part in a conspiracy to aid French banks through its disputed bond purchase programme highlight the rumour-mongering that is exacerbating tensions between members of the monetary union.

Der Spiegel, a respected German weekly, cited unnamed Bundesbank officials sources the ECB's decision to buy Greek sovereign debt was mainly for the benefit of French banks, which have sizable exposure to the bonds. It made a pointed

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