ECB's Weidmann dismisses talk of intervening to weaken euro
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Discussions about an overvaluation of the euro are simply a diversion from governments' task of sorting out their economies, European Central Bank policymaker Jens Weidmann said on Monday, resisting political pressure to weaken the currency.
The ECB has already done a lot to curtail the crisis and should do no more as the measures it has taken have stretched the central bank's mandate, added the Bundesbank chief - the only ECB policymaker to oppose the new ECB bond purchase plan.
French President Francois Hollande last week raised the possibility of political interference in exchange rate policy when he called for a medium-term target for the euro's value, a move to counter its recent appreciation.
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