European Central Bank President Mario Draghi hit back at German criticism of his plan to intervene in bond markets and reminded Europe's largest economy of its responsibility to anchor the euro.

The ECB "will always act within the limits of its mandate," Draghi wrote in a commentary for German newspaper Die Zeit provided by the Frankfurt-based ECB today. "Yet it should be understood that fulfilling our mandate sometimes requires us to go beyond standard monetary policy tools."

Bundesbank President Jens Weidmann and some German politicians have lashed out at Draghi's plan to resume government bond purchases to lower borrowing costs in countries such as Italy and Spain. Draghi's riposte comes as Chancellor Angela Merkel, who has signaled broad support for ECB bond buying, hosts Italian Prime Minister Mario Monti in Berlin today.