Draghi Vows to Keep Up Stimulus After German Parliament Grilling
- ECB President faces criticism in Germany for plight of savers
- Says restoring inflation will respond to savers’ concerns
President of European Central Bank (ECB) Mario Draghi arrives to a meeting of a Committee on the Affairs of the European Union in Berlin on Sept. 28.
Photographer: Steffi Loos.AFP via Getty ImagesMario Draghi acknowledged the pain European Central Bank policies are bringing to some of Europe’s savers and banks while vowing to press on with his efforts to bring back inflation.
“The volume of these concerns, the vocality of these concerns is definitely higher in Germany,” the ECB president told a press conference at the end of an almost two-hour closed-doors meeting with German lawmakers in Berlin on Wednesday. “That doesn’t make any difference to us really in the sense that we are sensitive, we do share these concerns and we are also aware that it is only in reaching our objective of price stability that these concerns can be addressed forever.”