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May 26, 2017

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Bundesbank chief threatened to resign over crisis measures: report

FRANKFURT -- The head of the German central bank or Bundesbank has threatened to resign in the festering fight with the European Central Bank over its anti-crisis measures, the daily Bild reported Friday.

The newspaper, quoting financial sources, said Bundesbank chief Jens Weidmann has repeatedly threatened to quit in protest over ECB chief Mario Draghi's plans to restart a contested bond-buying program to help the eurozone's most debt-wracked countries.

The German government has pressed Weidmann to remain, however, and the Bundesbank chief — who like each of the other 16 eurozone central bank chiefs has only one vote at the ECB's monthly policy setting meetings — has agreed to stay on at least for the time being and fight his corner at next week's meeting.

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