Germany and the euro: You Kant do that

Posted: September 12, 2014 in economy
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Germany and the euro


Many Germans fear that the European Central Bank is not on their side



HORST SEEHOFER, premier of Bavaria, sums up German attitudes to the European Central Bank (ECB). Based in Frankfurt, but run by Mario Draghi, an Italian, the ECB said on September 4th that it would cut its interest rate to 0.05% and start buying asset-backed securities from banks to get them to lend. By opening the money tap, taking on debt and buying “junk”, Mr Seehofer told Bild, Germany’s biggest tabloid, the ECB frightens people. “It must be our job to criticise these policies.”
Like others on the centre-right, Mr Seehofer frets that a new anti-euro party, the Alternative for Germany, will poach voters by bashing the ECB. The Alternative has just got into its first state parliament and may get into two more on September 14th. But scepticism about the ECB is growing across the country. Hans-Werner Sinn, boss of …

via Economic Crisis


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