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German ECB Board Nominee Schnabel Says Harmful, Wrong Narratives Threaten Euro

Isabel Schnabel, Germany’s nominee to the European Central Bank’s Executive Board, urged fellow German economists to tone down their criticism of the central bank’s policies.

“Dear fellow German economists, if you are wondering what you can do for Europe: Please help to dispel the harmful & wrong narratives about the @ecb’s monetary policy, floating around in political and media circles,” Schnabel, a University of Bonn professor, said on Twitter.

“These threaten the euro more than many other things,” she added.

Further, Schnabel said well-founded criticism and warnings concerning @ecb policy are “very important and need to be addressed”.

The academic is also a member of the German Council of Economic Experts.

When approved, Schnabel will replace another German, Sabine Lautenschalger, who resigned from the ECB board in September, apparently due to her opposition to the loose monetary policy.

The material has been provided by InstaForex Company – www.instaforex.com