Members of German Chancellor Angela Merkel's coalition parties signaled they won't stand in the way of European Central Bank chief Mario Draghi's plan to buy government bonds.

The envisaged move to purchase troubled euro states' government bonds is "a wise middle way" to solve the region's debt crisis, Elmar Brok, a European Parliament lawmaker and executive-committee member of Merkel's Christian Democratic Union party, told Deutschlandfunk radio today.

David Fuller's view This is another important step on the path of quantitative easing by the ECB.

(See also my comments yesterday.)