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BREAKING NEWS FROM CNBC’S STEVE LIESMAN: IT’S NOT UNUSUAL FOR DRAGHI AND WEIDMANN TO MEET - BUNDESBANK SPOKESMAN

Jennifer Dauble
Friday, 27 Jul 2012 | 3:00 PM ET

WHEN: TODAY, JULY 27TH

WHERE: CNBC’S “STREET SIGNS

Following is the unofficial transcript of breaking news from CNBC’s Steve Liesman. All references must be sourced to CNBC.

STEVE LIESMAN: A LITTLE MORE ON THIS DEVELOPING STORY WE HAVE OF A MEETING BETWEEN MARIO DRAGHI A RUMORED MEETING THAT WE BELIEVE WE ARE CONFIRMING HERE BETWEEN MARIO DRAGHI AND JENS WEIDMANN HE IS THE PRESIDENT OF THE BUNDESBANK, A BUNDESBANK SPOKESMAN TELLING CNBC IT’S NOT UNUSUAL FOR THE TWO TO MEET THEY ACTUALLY HAVE REASONS TO TALK. WHAT IS UNCLEAR AT THIS POINT IS IS DRAGHI TALKING TO THE HEAD OF THE BUNDESBANK BANK BECAUSE THEY AGREE OR BECAUSE THEY DISAGREE YOU REMEMBER THE BUNDESBANK MANDY HAS DISAGREED WITH A LOT OF THE IDEAS THAT HAVE BEEN OUT THERE FOR SAVING THE EUROZONE ESPECIALLY THOSE HAVE THE ECB TAKING A QUANTITATIVE EASING STANCE. SO THE QUESTION BECOMES IS DRAGHI GIVING WEIDMANN AN EARFUL OR IS WEIDMANN GIVING DRAGHI AN EARFUL OR ARE THEY BOTH IN AGREEMENT ON WHAT THE NEXT STEPS OF POLICY ARE. YOU REMEMBER ALL THIS STEMS FROM COMMENTS THAT DRAGHI MADE YESTERDAY THAT MADE MARKETS THINK THERE WERE SOME ACTIONS COMING FROM THE ECB NEXT WEEK MANDY.

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