Bundesbank issues warning over EU central bank

Bundesbank President Dr Hans Tietmeyer warned European governments yesterday not to try to make the EU's future central bankers answerable to their home countries.

In a robust defence of the independence of the EU central bank, he said it had to be free to make tough decisions which might hurt individual countries if this was necessary to ensure the stability of the single currency.

Members of the policy-making council of the future central bank would not be representatives of national interests, or even bound by instructions from their domestic central bank, Dr Tietmeyer said.