COURTING CRITICS: The head of the European Central Bank pressed his case with Germany’s main industry lobbying group for his plans to buy potentially unlimited amounts of government bonds to help the continent’s most indebted states survive the financial crisis.
THE ARGUMENT: Mario Draghi told the annual conference of the Federation of German Industries that there are already signs the ECB’s announcement of its plans is having a positive effect on financial markets. He said he is committed to ensure that governments do not skip or delay promised economic reforms in exchange for help keeping borrowing rates low.
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THE SKEPTICS: But the plans are opposed by the head of the Germany’s central bank and others in Germany who worry that the purchases could undermine the ECB’s official mission of fighting inflation.
