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

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