Cracks showing in Germany's fragile truce with ECB
Liverpool
MICHAEL Stuebgen, a conservative member of the German Parliament, was speaking with the head of a local savings bank recently about the European Central Bank's quantitative easing (QE) programme.
"He told me the bond market was being emptied out," Mr Stuebgen recalled. "He likened it to going into a supermarket where everything has been bought up. You might find a shrivelled old carrot or potato. Pretty soon you're starving." Mr Stuebgen, a spokesman on European affairs for Chancellor Angela Merkel's party in the Bundestag, credits the ECB and its president Mario Draghi with saving the eurozone from collapse four years ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations