ECB's Weidmann argues against preemptive action
WASHINGTON (Reuters) - Preemptively acting would reduce the pressure needed to get euro zone politicians to tackle the region's debt crisis, European Central Bank Governing Council member Jens Weidmann said on Monday.
"With all our actions we set incentives for politicians. If I tell a politician, hey, take our balance sheet to leverage your assets, I can be sure that there will be no further measures."
"I don't want to comment on the SMP (ECB bond buy program) but this also of course is one of the issues you have when you preemptively act," Weidmann said during a question-and-answer session at an event organized by the American Council on Germany.
(Reporting by Marc Jones; Editing by James Dalgleish)
(This story was corrected to say Weidmann referred to preemptive action)