“The European Union treaty’s provisions are meant to prevent the ECB from printing money to cover government debts, a practice which can cause inflation and compromise the bank’s political independence. It is also meant to keep it from bailing out one member country at the expense of the others without governments having a say.  But Joerg Asmussen, the top German at the ECB and a member of the six-strong executive board, which runs the bank daily, countered that any purchases of government bonds will be carefully designed to avoid violating the treaty.”

http://www.washingtonpost.com/business/the-head-of-germanys-bundesbank-says-bond-buying-by-ecb-could-turn-into-addictive-drug/2012/08/27/ff17eb7c-f03e-11e1-b74c-84ed55e0300b_story.html

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