Banks, central bankers and newspapers have attacked the ECB's latest round of stimulus
Perhaps signalling a desire to cool things down, Germany’s government announced on October 23rd that Isabel Schnabel, a member of its council of economic advisers, would replace Ms Lautenschläger. Ms Schnabel, who is also a professor at the University of Bonn, appears more pragmatic than those who have thrown in the towel.
Some German bank-watchers would probably have preferred that Jens Weidmann, the hawkish boss of the Bundesbank, was picked to succeed Mr Draghi. A few worry that, as a former French finance minister, Ms Lagarde might further politicise matters by pursuing policies that are redistributive across borders, rather than sticking to the’s price-stability mandate. But some hawks hold out hope that Ms Lagarde might change the bank’s policy.
France Dernières Nouvelles, France Actualités
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