More of the same blather from Europe as following Weidmann's earlier comments with regard the high-hurdles that the ECB still faces over sovereign QE, Coeure has come out to counter that by noting that the ECB does not have to see deflation to act and that they want to have a discussion of asset-purchases next week. EUR faded the Weidmann gains and Gold and silver are sliding as USD strengthens.

First Weidmann...

The head of Germany's Bundesbank cautioned the European Central Bank on Monday about the legal hurdles it would face in embarking on money printing to buy government bonds, underlining its opposition to such a move.

"Instead of focusing on the purchasing programme, we should focus on how you find growth," Weidmann told an audience in Madrid, when asked about the possibility of the ECB purchasing bonds issued by euro zone states.

He warned that it would be difficult to pursue such steps to lift low price inflation, a key yardstick of economic health.

"Of course there are other measures which are more difficult, because they are untested, because they are less clear ... and of course they hit the legal limits of what you can do," said Weidmann.

"This is why discussions are so intense," he added, having earlier highlighted "high legal hurdles" to any financing of states.

Then Coeure...

• *COEURE SAYS ECB WANTS TO HAVE ASSET-BUYING DISCUSSION NEXT WEEK
• *COEURE SAYS ECB MUST DISCUSS ALL OPTIONS ON BUYING NEW ASSETS
• *COEURE: LOW INFLATION AS BAD AS DEFLATION REGARDING DEBT IMPACT
• *COEURE SAYS ECB DOESN'T NEED TO SEE DEFLATION TO BE WORRIED
• *COEURE SAYS ECB WILL HAVE SERIOUS, PRINCIPLE-BASED DISCUSSION

And this...

Charts: bloomberg