- One of the so - called German wise man and formal advisor to govt, Peter Bofinger said that ECB's "inflation centric" mandate should be widened to attain greater financial stability and employment
- He also went on to say that ECB should guarantee that yields on government bonds do not rise above a certain level
- He also warned against chair reaction if Greek aid is stopped
"We operate much too procyclically, the problem countries are saving themselves to death,"
"We have to stop that, even if deficits will be higher in the short-term."
German economic adviser Peter Bofinger