GETTY Head of the ECB, Mario Draghi is again clashing with Germany

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Speaking to MEPs at the European Parliament today, ECB chief Mario Draghi defended his monetray policies amid recent criticism from German politicians. German government figures blame low interest rates for hurting savers and fuelling discontent with Angela Merkels' ruling party. But Mr Drgahi today insisted that low interest rates have been "very effective". And the chief also sought to make clear low interest rates are not the ECB's fault, but rather a "symptom" of low growth. The Italian then heavily hinted that the responsibility of low growth lays at the feet of politicians. He said: “Other policy actors need to do their part, pursuing fiscal and structural policies which will contribute to a self-sustaining recovery and increase the economic growth potential of the euro area.”

It comes as the central banker is expected to clash with his nemesis, Germany’s finance minister Wolfgang Schaeuble, when he appears before the German government on Wednesday. Berlin has already directed a series of public insults at the central bank in recent weeks over its attempts to bolster the eurozone economy, ramping up pressure on the already fraught relationship between the two sides. Mr Schaeuble recently mocked the ECB's money-printing programme, known as Quantitative Easing (QE) in front of an audience of German industrialists. Provoking laughter, he said: "I think it's called QE, I don't even know what that means." Mr Schaeuble has long been a vocal critic of ECB's policies, and earlier this year blamed negative interest rates implemented by the bank for the declining popularity of Angela Merkel's ruling party.



He has reportedly urged German lawmakers to give Mr Draghi a relentless grilling when he appears before ministers on Wednesday.



Spokesman on European affairs for Ms Merkel's party, Michael Stuebgen also added fuel to the fire when he recently said: "It is time for the ECB to change course."

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