Merkel Unhappy with ECB Over Stimulus versus Austerity

A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in order to boost growth in Europe.

Der Spiegel reported, without citing any sources, that she and Finance Minister Wolfgang Schaeuble had both called the ECB president last week to take him to task about comments he made in a speech at Jackson Hole, Wyoming on Aug 22.

A German government spokesman contradicted Spiegel’s version of events, however, saying that “the assertion that the chancellor took President Draghi to task does not correlate to the facts in any way”. The spokesman would give no further details of the call.

CNBC

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