ECB’s Plan of Supporting Crisis Stuck Euro States Criticized

ECB’s Plan of Supporting Crisis Stuck Euro States Criticized

On Friday, German commentators have criticized plan suggested by European Central Bank to support euro area, which has been drastically affected by repeated blows. The plan has urged the commentators to raise questions against the silent reaction of the government.

Several European Union leaders are in favor of the strategy drafted by ECB chief Mario Draghi to help the euro area members drive out of the crisis, thus declining the debt costs. However, the strategy was not able to influence many Germans.

Several headlines marked the insufficient approach of the strategy and claimed that such a program of buying bonds in the country, which fears that in case of interference, this would stimulate the price rise.

Infratest dimap conducted a survey to acknowledge how many Germans were in favor of buying the sovereign bonds of crisis-stuck eurozone states. Only 13% were in favor of it. 50% of them opposed the move. Rather, Finance Minister Wolfgang Schaeuble, also criticized the plan of ECB.

However, Chancellor Angela Merkel was in favor of the action. Friday, after ECB introduced the plan with new conditions, Merkel said, “The ECB made clear the future of the euro will to a large extent be determined by political action and that the conditionality is a very important aspect”.


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