Political Control of Money

``The ECB has continued to buy government bonds, thereby bringing many dodgy assets on to its formerly pristine balance sheet. This questionable policy has inevitably yet understandably drawn comparisons to show that in contrast to the Bundesbank, the ECB is not independent from political pressures. It has also rightly raised concerns about the long-term viability of the purchasing power of the euro. The obvious concern is that these ECB decisions to buy government bonds favour political expediency and are therefore eroding the fundamental principle of any money that aims to be sound.''