EURO BANK REVOLT: Concerns for ECB as German economists report ‘little confidence’
TENSIONS between the European Central Bank (ECB) and Germany are growing, as economists from the eurozone’s largest economy stage a revolt against monetary policymakers.
By LANA CLEMENTS AND MONIKA PALLENBERG
Express.co.uk
Thu, Jun 8, 2017
German economists have demanded an end to the central bank’s extreme policy measures, including negative interest rates and the pumping of billions of euros into the bloc each month.
The economic experts overwhelmingly want the ECB to withdraw the money-printing programme, showed a survey by the Bundesverband Deutscher Volks and Betriebswirte (bdvb) exclusively for WirtschaftsWoche.
The economists have “little confidence in the work of the ECB,” said bdvb President Peter Herrmann.
Only 18 percent thought that a move away from measures now would be too early.
It comes after German Chancellor Angela Merkel recently piled pressure on the central bank after she said the euro was too weak for Germany – a result of the ECB policies.
Finance minister Wolfgang Schaeuble has also hit out at the central bank, and even blamed the measures for a decline in the popularity of Mrs Merkel.
He said he thought the ECB should step back from its programme this year.
And now the country’s economists are taking the ECB to task.
More than a quarter of the economists surveyed said the quality of European monetary policy was “poor”.
The Rest…HERE
