The European Central Bank's massive purchasing of government bonds shouldn't turn into a type of "unbound", changeless assistance to obligated governments, ECB policymaker Jens Weidmann said on Monday.
The leader of the Bundesbank protected the ECB's "adaptable" purchases, which have been focussed on obligation from struggling Italy, however said these should just be transitory.
"'Adaptable' should not signify 'unbound'," Weidmann said in a recorded message. "Once more, it is critical to me that money related strategy does not set an inappropriate incentives for open finances."
He cautioned the ECB's ultra-easy approach should be fixed when the financial viewpoint allows to keep the central bank from turning out to be "caught with politics" and overburdened.
"Policymakers must not assume that we would keep the financing costs of governments low always or iron out any differences in sovereign risk premia," Weidmann included.