German bond yields are â€œvery, very lowâ€ while other countriesâ€™ are â€œvery, very high,â€ Merkel told the joint news conference. â€œWhat I can say is that the European Central Bank is acting with independence and within the framework of its mandate, that it is responsible for monetary stability and that it is introducing its measures within the framework.â€
Even so, measures including those meant to stabilize the currency, â€œcannot replace political action,â€ she said.
With Draghi saying the ECB will help only if a government asks for aid from the euro areaâ€™s rescue funds first, Merkel said she and Rajoy â€œdidnâ€™t talk at all about conditionsâ€ for a possible Spanish sovereign bailout.
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