Former ECB board members say OMTs are outside central bank’s mandate

Juergen Stark

Two former European Central Bank (ECB) board members, Otmar Issing and Jürgen Stark, have criticised the central bank's plans to buy European bonds on the secondary market.

Speaking on the BBC's Hardtalk programme today (October 1), Issing said the ECB was acting beyond its mandate with the bond purchases, dubbed ‘outright monetary transactions' (OMTs). "For me this extends the mandate of the ECB beyond what I think the ECB should do," he said. "This in my eyes is something very dangerous. Here

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: