- not all German govt decisions set example for Europe
- danger of low rates being used to finance spending
- the progress in Spain is uneven, more reforms needed
- ECB monetary policy has already done a lot but can’t resolve the crisis on its own
- ECB won’t consider public finances before rate hikes
- June 5th decision was preceded by soul-searching
- fiscal rules required in Europe
- no room for complacency in Germany
BUBA chief Jens Weidmann on the wires from Madrid
