Axel Weber, president of Germany's Bundesbank, warned six months ago about risks taken by the European Central Bank in launching a buying programme for government bonds. Those risks might be materialising. The ECB has had to ramp up its bond purchases and lend more money to Ireland's banks because of the country's reluctance to accept aid from the EU. The concern is that the ECB's independence is being eroded by financing debt-laden nations.
Published in Brief: