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In February 2010 everyone lied through their teeth about the impossibility of buying sovereign debt in the secondary market. That was a deliberate stance to leverage market pressure to force a political agenda on Greece.
You know, currently Jens "Worst Central Banker of the World" Weidmann is going around and gives speeches where he basically argues that the ECB should not fulfill its Mandate, to force specific political decisions upon various European Governments! This should definitely be an issue in the political discussion.
What about resolving the problem of too little inflation in Germany? Very aggressive monetary policy might do the trick (although I wouldn't count on it), but German monetary officials are warning against such policies because they might let debtors off the hook.
And let's be totally candid about this: Weidman's policies have killed more people than most of the successfully prosecuted war criminals from the Yugoslav wars.
- Jake Friends come and go. Enemies accumulate.
Weidmann is going around and gives speeches where he basically argues that the ECB should not fulfill its Mandate, to force specific political decisions upon various European Governments!
That's what's meant by "Weidmann advocates not fulfilling its mandate". A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
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