Bundesbank rejects talks about ECB bill-purchasing

Germany's leading banker denied speculations that ECB will expand its role after European officials agreed on new fiscal treaty. Jens Weidmann, the Bundesbank President told although new agreement indicated progress, the main responsibility in terms of financing should be held by national governments rather than ECB. On Friday ECB President, Draghi praised the fiscal treaty, fuelling optimisms among investors that ECB could involve in debt purchases.