Government bond-buying ‘is not a silver bullet’

Purchasing government debt comes with legal obstacles and it is no panacea for the eurozone economy, said ECB governing council member Jens Weidmann.

“There is a prohibition of monetary financing in the treaties that puts up high legal hurdles, and for good reason,” Weidmann said in Madrid.

The debate about quantitative easing “is distracting our attention from the true problems,” he said.