Macroeconomic News

Italy attacks Bundesbank comments on ECB intervention

Mon, 20th Aug 2012 13:32

RIMINI, Italy, Aug 20 (Reuters) - Italian Industry Minister Corrado Passera on Monday strongly

attacked Bundesbank criticism of European Central Bank plans for intervention in bond markets, saying such comments disrupted markets.

The Italian government, including Prime Minister Mario Monti, has been increasingly critical in recent weeks over German reluctance to agree on action to lower Italy and Spain's crippling borrowing costs.

Passera, speaking at a meeting in the Adriatic resort of Rimini, said Bundesbank criticism of ECB plans for bond buying 'does not honour those who make them.' He said there had recently been an excess of 'incoherent and disruptive communications which have also disturbed markets.'

(Reporting by Paolo Biondi Editing By Barry Moody) Keywords: ITALY BUNDESBANK/PASSERA

(barry.moody@thomsonreuters.com)(+390685224350)(Reuters Messaging: barry.moody.thomsonreuters.com@reuters.net)

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