Draghi defends OMTs in front of German parliament

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Mario Draghi, president of the European Central Bank (ECB), today (October 24) defended the central bank's plans for outright monetary transactions (OMTs) in front of the Bundestag, Germany's parliament.

In his introductory statement, Draghi noted it is rare for an ECB president to speak to a national parliament, as the central bank is accountable to the European parliament. However, the German central bank's governor, Jens Weidmann, was the only member of the ECB's governing board to vote

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