- Monetary policy shouldn’t weaken reform efforts
- Critical stance on OMT helped bring conditionality and OMT is the outside core of monetary policy
- Other ECM colleagues saw dangers of OMT
- View that BUBA was isolated on the matter was untrue
- It’s up to ECB to defend its mandate, whlich are not cl;early defined
- Policy makers are still agonising over where limits are
- I can best represent BUBA’s beliefs by staying in office, previous resignations have had little effect
- Comparing ECB with the FED and BOE isn’t helpful
- Independence of ECB is even more important in EMU
Bloomberg and Reuters reporting