German Finance Minister Wolfgang Schaeuble ratcheted up his criticism
of European Central Bank President Mario Draghi this week ahead of
Draghi's visit to the German parliament next week, the Bild newspaper
reported on Saturday.
Schaeuble, a fierce critic of Draghi, urged
members of the German finance committee to ask tough questions about
Draghi's monetary policy when he testifies before the committee on
Wednesday, the newspaper said, citing meeting participants.
ECB has been easing policy aggressively to boost growth and inflation in
recent years with little to show for its efforts, fueling arguments
that monetary policy was at its limits and governments needed to help
Schaeuble earlier this month rejected Draghi's criticism of
Germany's export surplus, saying the ECB had not changed its monetary
policy which has led to a weaker euro which in turn boosts German
Munich-based Ifo economic institute has said Germany's
current account surplus would probably hit a new record of 278 billion
euros ($313.28 billion) this year, overtaking that of China again to
become the world's largest.
Draghi is due to address the finance and budget committees of the German parliament on Wednesday.
between Europe's largest economy and the ECB have been tense due to
criticisms by German government officials, who argue that the ECB's
ultra easy monetary policy is eroding the savings of thrifty Germans and
profit margins for banks.
Schaeuble has also blamed the ECB's
policies for the recent rise of a right-wing anti-immigration party,
Alternative for Germany, which made huge gains in two regional
Draghi last spoke in the German parliament in 2012.