Monetary policy is no panacea for Europe’s ills

"The euro crisis is certainly not over yet," is how the Bundesbank's Jens Weidmann begins this intriguingly honest interview, adding that, resolution "will take some time." Perhaps his most telling statement comes early on when he explains that "believing that everything is okay now simply because the situation on the financial markets has eased is an illusion and does not help matters," as imbalances remain unresolved.

Bundesbank chief Jens Weidmann expressed concern Monday about threats to the independence of central banks, particularly in Japan and Hungary, which he warned could sharply politicise exchange rate policy. "We are witnessing disturbing abuses, for example in Hungary or in Japan, where the new government is interfering massively in the affairs of the central bank, calling forcefully for a more aggressive monetary policy," Weidmann said at a new year reception at the Frankfurt stock exchange's operator, Deutsche Boerse.

Temporary emergency measures introduced during the financial crisis can have "significant side effects" when kept for too long, newly appointed Bundesbank President Jens Weidmann said.

RTE News editor Tony Connelly brought us another key excerpt via Twitter from billionaire investor George Soros' speech at the World Economic Forum in Davos, Switzerland:

While German finance minister Schaeuble 'blessed' the French two-year grace-period for 'missing the deficit targets', adding that "he trusts France.. and is aware of its duties and responsibilities," it is his fellow countryman that is making headlines.