Italy attacks Bundesbank comments

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ECB

Italian Industry Minister Corrado Passera on Monday strongly attacked Bundesbank criticism of European Central Bank plans for intervention in bond markets, saying such comments disrupted markets.

The Italian government, including Prime Minister Mario Monti, has been increasingly critical in recent weeks over German reluctance to agree on action to lower Italy and Spain's crippling borrowing costs.

Passera, speaking at a meeting in the Adriatic resort of Rimini, said Bundesbank criticism of ECB plans for bond buying “does not honour those who make them.” He said there had recently been an excess of “incoherent and disruptive communications which have also disturbed markets.” - Reuters


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