ECB officials in complete disagreement over recovery

05/15/2009 | Bloomberg

Nout Wellink, a Dutch representative to the European Central Bank, warned against excessive optimism about recovery, while ECB Vice President Lucas Papademos said the recovery might come sooner than most expected, as the bank's policymakers from Slovenia and Germany reopened a public argument about the ECB's plan to buy covered bonds. "The ECB Governing Council looks like a battlefield," said Laurent Bilke, a former ECB forecaster who works for Nomura International.

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