Apparently the German Bundesbank President, Jens Weidmann, is not a fan of the ECB’s bond-buying proposal.
Weidmann compared the purchase scheme to the work of the devil as highlighted in Goethe’s play Faust. In the story, the Holy Roman Emperor is persuaded by the devil to print money backed by gold that has not been extricated yet to solve an economic crisis. It works… for a while.
Source: he Market Today ONLINE
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