European Central Bank
President Mario Draghi on Wednesday told the Bundestag he
understood the fears of the German people and said the ECB's
measures were effective. He said they were "also working to the
benefit of German savers". Draghi said the ECB's quantitative
easing (QE) programme had, in 2015 alone, enabled Germany to
save 28 billion euros. He said the ECB's monetary policy was not
the reason for banks' low profitability. Draghi also cited
German Finance Minister Wolfgang Schaeuble in saying that
interest rates would go up only when growth returns on a steady
basis.
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