Politicians from the CDU, CSU and FDP have criticized the planned awarding of the Federal Cross of Merit to former ECB President Mario Draghi. "The policies of the European Central Bank under Draghi have not only continuously expropriated German savers, but also reduced the pension provision of millions of people in Germany," said CDU interior expert Axel Fischer image-Newspaper. "I don't think he deserves a German award for that."
Why Draghi? Federal Cross of Merit should not be awarded. "His (monetary) policy may have been helpful for some southern European countries, but not for the euro area and certainly not for Germany," said Fischer.
Federal President Frank-Walter Steinmeier wants to hand Draghi the Federal Cross of Merit on January 31 at Bellevue Palace in Berlin. The award gives Germany to domestic and foreign citizens for political, economic, social or intellectual achievements. Draghi was the head of the ECB for eight years and was repeatedly criticized in Germany for his interest rate policy and the purchase of government bonds. On November 1st, the Frenchwoman Christine Lagarde headed him ECB replaced.
FDP parliamentary spokesman Florian Toncar also criticized the decision. "It is not understandable for what merit Mario Draghi should receive the Federal Cross of Merit," he said. His monetary policy was "a colossal experiment with an open outcome at best". The ECB's interest rate policy affects the pension provision of millions of people.
CSU General Secretary Blume had previously expressed similar comments. "You have to keep in mind that the man who has stood for years with his interest rate policy for a kind of gradual expropriation of all those who have traveled ahead, saved and invested in old age should be honored," he said Picture on Sunday,
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