(ANSA) - BERLIN, 28 SEPT -
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.
Gunther Krichbaum, the head of the Bundestag's European Affairs
Committee, said Wednesday that European Central Bank President
Mario Draghi was hurting German banks with low interest rates,
which were a "secret rescue" for countries that do not implement
structural reforms.
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