If the central banks buy bonds of individual countries with poor credit rating, it would result in redistribution of risks of unsound budgetary policy to all euro area nations, European Central Bank Governing Council member Jens Weidmann said Monday. Only democratically elected bodies like parliaments and governments have the right to decide on such redistribution of risk, Weidmann, who is also the president of Bundesbank said. The monetary policy cannot solve the crisis, he noted. The ECB can only buy time to address the crisis and it will only stick to its mandate, Weidmann added. Weidmann has been one of the critics of ECB's bond purchase program dubbed as Outright Monetary Transactions.