Draghi defends plan and criticises bank

ECB president Mario Draghi yesterday defended his bond-purchase plan and took a swipe at Germany’s Bundesbank, saying choosing to do nothing would have been dangerous.

“Either you do nothing — nein zu Allem,” or no to everything, and “allow the singleness of monetary policy to be undermined, or you take action,” Mr Draghi told an audience of business people in Berlin.

“The greatest risk to stability is not action, it’s inaction.”