September 12, 2019 / 4:25 PM / 9 days ago

ECB's Draghi faced pushback from heavyweights on new bond buys - sources

European Central Bank (ECB) President Mario Draghi gestures as he speaks at a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, September 12, 2019. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - European Central Bank President Mario Draghi faced pushback from the representatives of Germany and France as well as at least one of his own board members on Thursday when he pushed for resuming the ECB’s bond-buying programme, three sources told Reuters.

The heads of the Bundesbank, Jens Weidmann, and the Banque de France, Francois Villeroy de Galhau, as well ECB board member Benoit Coeure, once seen as a key Draghi ally all disapproved of the decision, the sources, who asked not to be named, said.

But they were eventually outnumbered and the issue was not put to the vote.

The ECB, the Bundesbank and the Banque de France all declined to comment.

Reporting by Francesco Canepa, Frank Siebelt and Balazs Koranyi

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