Weidmann says that ECB should not see QE as a silver bullet

FXStreet (London) - European Central Bank council member Jen Weidman put a stick in the spokes of ECB sovereign debt buying aspirations.

Speaking in Madrid, the Bunesbank president said that there were “high legal hurdles” to full blown ECB quantitative easing. Weidmann said that “there seems to be a conception that there is one silver bullet out there which is buying sovereign debt.” However he said that the focus should instead be on generating economic growth in the Eurozone area.