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Germany's national bank, the Deutsche Bundesbank, has shown signs of irritation that the European Central Bank (ECB) has chosen to buy the state bonds of highly indebted eurozone countries.
The bankers complained that by buying the Greek bonds, the ECB was keeping their price artificially high, and other banks, notably French ones, were consequently using the opportunity to sell their Greek bonds in order to clean up their finances.
The report claims that some high-ranking German bankers suspect a French conspiracy, saying that ECB head Jean-Claude Trichet, a Frenchman, had been put under pressure by French president Nicolas Sarkozy to break one of the ECB's golden rules – never to buy government bonds from member states.