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News Summary: ECB's Draghi faces German lawmakers

Source : AP
Last Updated: Wed, Oct 24, 2012 22:36 hrs

: The European Central Bank's president drew a broadly positive response from German lawmakers Wednesday when he told them that his bond-buying plan won't stoke inflation

HERE'S THE PITCH: In an effort to win over skeptical public opinion in Europe's biggest economy, Mario Draghi met for two hours at Berlin's Reichstag building with more than 100 politicians.

MONEY MACHINE? Although Chancellor Angela Merkel's government supports the plan, the president of Germany's central bank argues that it comes too close to using the ECB's power to print money to support governments' finances directly, which the bank isn't allowed to do.



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