The ECB might want to buy bonds, but can they?

Bundesbank leader Jens Weidmann says he sees a high legal hurdle for ECB government bond buying.

He made the comment in a speech in Madrid and while it’s no surprise to hear misgivings from Weidmann, the opinion that really matters is in the courts and it’s sure to be a battle.

Weidmann is instead urging governments to focus on growth.

Earlier today Nowotny tried to reel in expectations of QE, at least for the next four months.