ECB's Weidmann criticizes weekly ELA extensions for Greece

FXStreet (Mumbai) - Speaking to the German newspaper Handelsblatt on Thursday, European Central Bank (ECB) Governing Council member Jens Weidmann showed no sign of easing off on his tough Greek stance, as he criticized the emergency support which the ECB has been giving to bleeding lenders in the country.

Key Quotes:

"I don't find it OK that banks without access get loans to finance bonds of their own country, which is itself without market access,"

"The decision about the future of Greece in the monetary union is clearly with governments,"
'Increased politization'

Weidmann said central banks "aren't responsible for the composition of the monetary union or granting of aid payment."

"I'm concerned by the increased politization of central banks, as well as the constantly rising expectations in us. That's risking a dangerous overstraining of central banks,"

"This is not only against a backdrop of democratic legitimization, but also because we wouldn't even be in a position to solve Europe's problems."