Germany's appointee to the board of the European Central Bank, outspoken po...
BERLIN/FRANKFURT - Germany’s appointee to the board of the European Central Bank, outspoken policy hawk Sabine Lautenschlaeger, has decided to step down, the ECB said on Wednesday, in what was likely to be seen as a further backlash against the latest stimulus measures.
The ECB did not give a reason for Lautenschlaeger’s resignation, which will take effect at the end of next month -more than two years before the end of her term as one of the six members of the Executive Board that runs the central bank. Among them was the Bundesbank’s own President, Jens Weidmann, along with governors from France and the Netherlands.
Frustration at the central bank’s easy-money policy of sub-zero rates and massive bond buys is running high in Germany, with tabloid Bild depicting ECB President Mario Draghi as a vampire sucking off Germans’ savings.
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