Chairman of the Bundesbank is on the wires:
The fact that the growth outlook for the Euro-zone remains weak in the long term shows limits of what expansive monetary policy can do
Still expects fairly strong growth for Germany despite weakness in large EM's
Does not see lasting danger for global economy from current China uncertainty
Recent China stock market fall was partly a correction of an earlier dramatic rise
Real impact of recent market turmoil is limited
Bundesbank is still against the Quantitave Easing in Europe. Weidmann's opinion may be important in upcoming weeks as the ECB is expected to expand its programme .