Mario Draghi took on his critics at the Bundesbank on Thursday, warning Germany’s central bank against public expressions of concern over his actions to combat the eurozone debt crisis, which the European Central Bank president insisted had been “an unquestionable success”.

In a move to defuse a row that threatened his authority, Mr Draghi said he “cherished” the culture and traditions of Germany’s central bank, but added: “We are all in the same boat and I think that there is nothing to gain by fighting or arguing publicly outside the [ECB] governing council.”

Mr Draghi’s comments followed the leaking last week of a letter sent by Jens Weidmann, Bundesbank president, warning about the dangers created by ECB policies that have provided more than €1tn in three-year loans to eurozone banks.