German bond yields are “very, very low†while other countries’ are “very, very high,†Merkel told the joint news conference. “What 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, “cannot replace political action,†she said.
With Draghi saying the ECB will help only if a government asks for aid from the euro area’s rescue funds first, Merkel said she and Rajoy “didn’t talk at all about conditions†for a possible Spanish sovereign bailout.
via Bloomberg
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