Draghi defends ECB policy to German lawmakers
Monetary policy not causing low profitability at some German banks, ECB president says
Mario Draghi defended the European Central Bank's (ECB) unconventional monetary policy to German lawmakers yesterday (September 28), in a speech at the Bundestag in Berlin.
Current low interest rates reduced the nominal return on savings, the ECB president said, but savers were still able to "earn satisfactory rates of return from diversifying their assets".
Furthermore, he noted, German citizens were taxpayers and borrowers as well as savers. German taxpayers had benefited from ECB policies, he
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