Germany hits out: Angela Merkel says euro is too weak and BLAMES European Central Bank

Monday, May 22, 2017
By Paul Martin

GERMAN Chancellor Angela Merkel has said the weak euro is the fault of the European Central Bank’s (ECB) policies.

By LANA CLEMENTS
Express.co.uk
Mon, May 22, 2017

Mrs Merkel admitted Germany’s trade exports have reaped huge benefits from the weak euro.

But the German leader said the ECB’s ultra low interest rates and mammoth money-printing programme were the cause.

The comments caused a huge surge in the single currency amid expectations monetary policymakers could feel pressured into changing their stance.

In just a few minutes, the euro went up around two cents against the dollar to hit 1.12 – its highest level against the US currency since September.

It’s not the first time Germany’s politicians have publicly criticised ECB policies in a bid to win favour with the public.

Finance minister Wolfgang Schaeuble even blamed the central bank for Mrs Merkel’s declining popularity among Germans.

It comes as low interest rates and money printing have disgruntled German savers.

Head of the ECB, Mario Draghi has previously refused to bow to German pressure – and said its policies are for all the entire eurozone – not just Germany.

But experts said market expectations that the ECB could raise rates or reign in the so-called quantitative easing programme.

The Rest…HERE

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