Premier Matteo Renzi has
stood up for European Central Bank President Mario Draghi after
the Italian official hit back hard at criticism from Germany of
his monetary policy for the eurozone.
"Draghi enjoys the confidence and esteem of all the
European countries," Renzi said at the United Nations in New
York after a series of bilateral meetings to promote Italy's bid
for a non-permanent Security Council seat.
On Thursday Draghi said "certain criticism" directed at
the ECB's policies under him threatened the independence of the
central bank and he stressed that its mandate was to serve the
whole eurozone, not just Germany.
This seemed to be a response to comments by Germany
finance minister, Wolfgang Schäuble, who had said the ECB's
record low, zero interest rates were causing "extraordinary
problems" for German banks and pensioners and could fuel
Euroskepticism.
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