Comment on Merkel's comment re. Supporting ECB

Anglo press – AGAIN! – misrepresent Merkel actual statement – below is Bloomberg’s article w. my underlining:

She agree’s on: ECB’s insistence on conditions , feel committed to do everything we can to maintain the common currency.”

She has NOT said she support bond buying or any other broad support. It says a lot about the market when this clear messages gets reported being Merkel supporting ECB’s plan
.
Having said that clearly Merkel has more lenient with on ECB & Draghi than Bundesbank, but… end of the day Merkel, Bundesbank, and ECB is not going to do anything before the September 12th ruling from German Constitutional Court – as always this is: Buying time….

Source: Bloomberg LLP, Bloomberg Brief:

http://www.bloomberg.com/news/2012-08-16/merkel-says-germany-backs-draghi-s-conditionality-for-ecb-aid.html