With the euro “every national central bank became much less powerful, and this reduction was by far the biggest for the Bundesbank, because it had played an anchor role before,” said Volker Wieland to “Handelsblatt Global Edition”. Regarding quantitative easing within the euro area Volker Wieland said: “It’s a normal instrument of monetary policy to buy assets, and looking at Jens Weidmann’s speeches I think he thinks that too. He just says that there are certain risks coming with it, and that those risks are more pronounced in a union made out of more or less fiscally-sovereign countries.”
