German CDU’s Kauder Warns Over European Central Bank Cash Policy

A top official in Chancellor Angela Merkel’s party told Wirtschaftswoche he has “mixed feelings” about the European Central Bank handing financial institutions more than 1 trillion euros ($1.3 trillion) in cash.

“I hope the ECB recognizes its limits and later collects the money back swiftly,” Volker Kauder, the parliamentary chief of Merkel’s Christian Democratic Union and its Bavarian Christian Social Union sister party, told the Dusseldorf-based weekly magazine in an interview. “Once the European Stability Mechanism is working, many ECB measures won’t be necessary anymore.”