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Lagarde’s Task Toughens as Nagel Fires Salvo on ECB Crisis Tool

  • Bundesbanker stipulates only ‘exceptional circumstances’
  • Episode could set the scene for major disagreements ahead
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WATCH: The ECB should be cautious about deploying crisis tools, says Governing Council member Joachim Nagel.Source: Bloomberg

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The days of European Central Bank teamwork heralded by Christine Lagarde may be ending as a Bundesbank warning shot on her crisis policies evokes its prior role as a thorn in the presidency’s side.