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Bundesbank blasts the idea of unlimited bond purchasing by the ECB on the grounds that it is “the responsibility of fiscal policymakers – the governments or Parliaments of euro area countries – to decide whether to possibly considerably enlarge the communitisation of solvency risks”. BuBa is right: the potential scale takes it way beyond technical considerations and the politicians cannot evade their responsibilities in this way. That is the object of the #bishopbills plan (further details).