Germans decry ‘blank cheque’

Germany’s press accused the European Central Bank on Friday of writing a “blank cheque” to indebted euro zone states by agreeing to buy their bonds, and some pro-government lawmakers threatened legal action to stop purchases.

Germany’s press accused the European Central Bank (ECB) Friday of writing a “blank cheque” to indebted euro zone states by agreeing to buy their bonds, and some pro-government lawmakers threatened legal action to stop purchases.

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ECB President Mario Draghi unveiled plans on Thursday for potentially unlimited purchases of bonds of up to three years maturity of countries that request a European bailout and fulfil strict policy conditions.

The German central bank chief was the sole dissenting voice in the decision.