German Bundesbank President Jens Weidmann. Photo: Reuters/Kai Pfaffenbach

German central bank chief and ECB policy maker Jens Wiedmann said Thursday that Italy’s move to wind down Banca Popolare di Vicenza and Veneto Banca using taxpayer money showed unwillingness of euro zone countries to cede economic policy decision making to a European level.

“That (unwillingness) is evident not only in the handling of budget rules but also in the adherence to new rules on winding down banks, especially by countries demanding more mutual liability” Weidmann was quoted as saying.

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