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Buying government bonds, he said, amounts to financing states and is thus a fiscal matter.
The institutes said it broke the taboo of financing states and increased the danger of inflation in the medium term.
Jens Weidmann, president of Germany's Bundesbank, says intervening in the bond market comes dangerously close to breaking the law that bans the ECB from financing states.
But industry and labor groups warn that without secure financing, states will become cautious about starting new projects, possibly putting an entire year's worth of construction on hold at exactly the wrong moment.
The German plaintiffs in the case argued that the programme violated the central bank's mandate: in their view it is supposed to make only monetary policy but buying government bonds amounts to financing states and is thus a fiscal matter.
While meth puts the ravages of crack to shame, the federal government is considering limiting the financing states use to provide safe foster homes for abused and neglected children.
Similar(48)
Private firms were given an important role in financing state infrastructure projects, despite widespread criticism that this financing was on terms often disadvantageous to the taxpayer.
Moreover, SOE dividends are not handed over to the finance ministry to spend as it sees fit but paid into a special budget reserved for financing state enterprises.
China established its stock exchanges a decade ago in an attempt to shift the burden of financing state companies from the country's state banks to the public.
China's 10-year-old stock markets, while still immature by Western standards, have played a key role in financing state-enterprise reform.
Facing a shortfall in financing, state lawmakers have proposed that families' share of the costs should double to $6 million, The Sunday Record of Bergen County reported.
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CEO of Professional Science Editing for Scientists @ prosciediting.com