It is an issue for the states’ signatures and, as a consequence, of the financial stability of the euro area. It is clear that it is the primary responsibility of the Europeans to take the appropriate measures in order to counter the present severe tensions which have erupted in Europe.
SPIEGEL: In the course of the crisis, the Governing Council of the European Central Bank decided, for the first time, to buy the government bonds of troubled EU countries – thus breaking a taboo. The President of the Deutsche Bundesbank, Axel Weber, his Dutch counterpart and the ECB’s chief economist, Jürgen Stark, voted against this move.