BERLIN (AP) -- The European Central Bank's president has told German lawmakers that his controversial bond-buying plan won't create inflation and will not allow struggling countries to backslide on economic reform efforts.
Mario Draghi went to the German Parliament Wednesday to meet members of its budget, finance and European affairs committees. The ECB's plan to to buy unlimited amounts of short-term government bonds of troubled euro countries has met with skepticism in Germany and resistance from the head of the country's central bank.
The plan is aimed at keeping a lid on borrowing costs of indebted countries such as Spain and Italy. Draghi said in opening remarks released by the ECB that investors' "unfounded fears about the future of the euro area had to be removed."
