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German vice-chancellor: It's wrong to blame ECB for root cause of Eurozone problems

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    German vice-chancellor and economy minister Sigmar Gabriel was on the wires via Reuters, defending ECB Chief Draghi’s and team.

    Key Quotes:

    It’s wrong to blame ECB for root cause of Eurozone problems

    Austerity is at root cause of economic woes

    ECB is simply reacting to consequences of austerity
    Draghi is not the problem

    Only the ECB is responding to weak EZ growth

    Outsourcing of political problem to ECB has reached a limit

    Need increased investment across Europe to support growth

    Printing money is not a sustainable economic policy

    Not calling on the ECB to act, rather that govts must agree programme to promote growth

    Low oil price proving positive for Germany, but a problem for some EMs
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