GETTY Draghi has been slammed for his policies

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Lawmaker for the conservative Christian Social Union (CSU) party, Hans Michelbach lashed out at ECB president Mario Draghi saying the view that economic conditions were improving was "not credible". Michelbach is among a growing number of politicians who have blasted the president of the European Central Bank for its policies saying they are not leading to more trust in the bank or its monetary policy.

GETTTY Mr Draghi was making a speech in the German Bundestag

We are not reaching our goal of increasing trust in the ECB and its monetary policy Hans Michelbach

Answering Draghi’s speech at Germany’s parliament, the Bundestag, the outspoken Michelbach said: “We are not reaching our goal of increasing trust in the ECB and its monetary policy.” Mr Draghi has been forced to defend his policies are fixing the eurozone’s economy after being attacked by the German politicians.

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GETTY Critics have said the ECB's monetary policies are not working

In his Bundestag speech Mr Draghi reiterated calls for Eurozone countries to share the burden of economic growth and denied interest rates were to blame for the problems of German banks. Florian Hahn of the CSU said: “The measures the ECB has taken are good for the eurozone as a whole, but not for Germany. And that’s what we as politicians have to explain to our voters.” The president has been accused of giving away German savings and fuelling the rise of far-right nationalism. However, Mr Draghi has said that low European Central Bank rates are needed to revive growth.

GETTY The ECB has interest rates at a record low of zero

Mr Draghi’s central bank has deployed negative interest rates and large-scale asset purchases as it tries to boost inflation and growth in a currency area. The bank’s main interest rate is now a record low of zero. Mr Draghi said: “What a household may lose in terms of little interest on their bank account, it might save in lower mortgage payments for their home.” MP of the left Die Linke Party said: “I still think his policy is wrong because all the small-time savers suffer while owners of assets just keep getting richer.”