Bundesbank president critic on ECB's banks controller role

FXstreet.com (Barcelona) - Bundesbank president and ECB policymaker Jens Weidmann, has disapproved, in an interview with the Finnish newspaper Helsingin Sanomat, the assignment of the ECB as the governing body to oversight the largest European banks.

The ECB's new responsibility "will obscure the conflict of interest between supervisory role and monetary policy," Mr. Weidmann said on the interview, according to Juhana Rossi from Dow Jones.

On the other hand, the idea of creating a banking union to ward off future crisis event is something he still supports. "The banking union's purpose is to break the vicious circle between banks and governments," Mr. Weidmann said on the interview.

With regards to the ECB's OMT progra,, he adds: "The program can add substantial risks to monetary policy..." adding that there should be mechanisms in place to limit those risks.