“The central banks are not omnipotent”, Interview with Dr Jens Weidmann, President of the Deutsche Bundesbank, with the magazine Der Spiegel (27.08.2012)

“The central banks are not omnipotent” said Jens Weidmann, President of the Deutsche Bundesbank.

Mr Weidmann, it is said that US President Obama recently asked Chancellor Merkel for your telephone number. Has he called you yet?

I haven’t received any phone call from President Obama. I do occasionally speak on the phone with US Treasury Secretary Timothy Geithner. It’s an important part of my duties to make the case for the Bundesbank’s positions when speaking to monetary and fiscal policy-makers around the world.

But these efforts don’t seem to be bearing much fruit. In all the Western capitals, from Washington to London, from Paris to Rome, you are known as the man who wants to destroy the euro. Is this accusation justified ?

No, absolutely not. I want to play a part in safeguarding the euro as a stable currency. The framework for this comprises, above all, the Maastricht Treaty with its rules and conditions for European fiscal and monetary policy. That is what I go by.

You can click there to see the whole interview