Economics
The ECB Policy Most Disliked in Germany Is Now Run by a German
- Isabel Schnabel will now oversee the bond-buying program
- Economist seen as well placed to explain ECB stance in Germany
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Christine Lagarde has a plan for rebutting German criticism of the bond-buying program she inherited as European Central Bank president: Put a German in charge of it.
Lagarde has handed one of the ECB’s highest-profile roles to a German who has taken a stand against undue sniping at the institution’s policies. Isabel Schnabel, a University of Bonn economics professor and government adviser who joined the Executive Board on Jan. 1, is now responsible for market operations.