German central bank criticises ECB stimulus plan

BERLIN: The head of Germany’s Bundesbank has criticised the European Central Bank’s (ECB) recent cut in borrowing costs and its pledge to buy repackaged debt, saying they took pressure off governments to implement needed reforms.

Jens Weidmann told Der Spiegel magazine that the moves went beyond previous attempts to encourage banks to lend more, and could free banks of risk at the cost of the taxpayer.