Merkel Ally Fuchs: Draghi, Stop Talking QE, "We Shouldn't Pump Money" Into Struggling EU Nations

As bonds rally and EUR slumps near 1.20 (the figure) following moar Draghi jawboning and suggestions of sovereign QE from the ECB, Germany has come out swinging to remind the world that it won't stand idly by as the nation's taxpayers are thrown under the bailout-the-EU-or-else bus. Michael Fuchs, deputy parliamentary floor leader of Angela Merkel's Christian Democrats, told Deutschlandfunk radio on Friday: "We shouldn't pump extra money into these states, but rather make sure they continue along the reform path." As Reuters reports, Fuchs further added, "I'd be grateful if (ECB President Mario) Mr Draghi would make statements along these lines."

 

As Reuters reports,

A senior member of Angela Merkel's party warned the European Central Bank not to pour money into Greece and other struggling euro zone states through bond purchases, saying this would reduce pressure on them to enact much-needed reforms.

 

Michael Fuchs, deputy parliamentary floor leader of the German chancellor's Christian Democrats (CDU), told Deutschlandfunk radio on Friday: "We shouldn't pump extra money into these states, but rather make sure they continue along the reform path.

 

"I'd be grateful if (ECB President Mario) Mr Draghi would make statements along these lines."

 

...

 

"I expect there to be fierce discussion over this at the next ECB meeting," said Fuchs, referring to opposition to the bond-buying plan by the head of the Bundesbank Jens Weidmann. The ECB's next policy meeting is on Jan. 22.

 

Fuchs has frequently expressed frustration felt by many German politicians and the public about the pace of reform in twice-bailed-out Greece.

 

He was quoted as saying in a newspaper interview published on Wednesday that euro zone politicians were not obliged to rescue Greece as the country was no longer of systemic importance to the single currency bloc.

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Un-United States Of Europe?