Bloomberg - ECB Gets Chance for German Reset With Lagarde-Schnabel Dual Act

A quote from Lucas Guttenberg in Bloomberg

The former economic advisor to Chancellor Merkel’s Government Isabel Schnabel will join the ECB’s Executive Board. According to Bloomberg she has „a track record of defending its monetary stimulus against attacks by her compatriots“. In Lucas Guttenberg’s opinion this is a good and courageous decision as “it makes a lot of sense to have someone who can explain what the ECB is doing”. He also states : “The basic challenge we have in Germany is that the ECB is pretty much perceived as a foreign institution, because nobody from the ECB is explaining its policies in German to the German public.” Schnabel will need to focus on a strong communication with the German audience, but furthermore she has to win the support of European leaders and the European parliament. 

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