‘I think critics will eventually accept ECB proposals are best way forward’

Central Bank governor Patrick Honohan expects the German Bundesbank to eventually row in behind ECB plans, unveiled yesterday, to make unlimited purchases of short-term bonds of stressed eurozone member states.

“I think they will [accept it] because I think it will be operated with the necessary conditionality related to countries in the programme and ensuring they stay in adherence to conditions of the programme,” he said at Trinity College Dublin.

“I think that critics will gradually realise that it is being operated in a business-like and disciplined way and that it has all the positives of the programme and not the negatives that they see.”