Reuters: Regulatory News: Merkel tells lawmakers ECB acting within mandate-sources

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Merkel tells lawmakers ECB acting within mandate-sources Sep 10th 2012, 16:44 BERLIN, Sept 10 | Mon Sep 10, 2012 12:44pm EDT BERLIN, Sept 10 (Reuters) - German Chancellor Angela Merkel and her Finance Minister Wolfgang Schaeuble told conservative lawmakers on Monday that the ECB was acting within its mandate with its plans to buy the bonds of weak euro states, participants at the closed-door meeting told Reuters. The ECB's plans for potentially unlimited purchases of bonds issued by countries that request a European bailout has stirred anxiety in Germany over the growing costs of the nearly three-year-old debt crisis. Some conservative lawmakers have said the ECB is acting beyond its mandate in a dangerous and potentially illegal manner.

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