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Banks

Draghi ready to defend ECB at German parliament: report

European Central Bank (ECB) President Mario Draghi speaks during a news conference at the ECB headquarters in Frankfurt, Germany, April 21, 2016. REUTERS/Ralph Orlowski

BERLIN (Reuters) - European Central Bank President Mario Draghi is ready to appear at Germany’s Bundestag to defend the bank’s loose monetary policies but warned that excessive criticism could hurt the ECB’s effectiveness, a newspaper reported on Wednesday.

“Any perception that the ECB’s independence is under attack can unsettle businesses and consumers,” Draghi told Germany’s Bild tabloid, according to an English version of the interview published in Business Insider.

“They might then postpone investment and spending decisions that are good for jobs and growth.”

Tensions between the ECB and Germany have risen sharply in recent months and Germany officials have asked Draghi to come to Germany’s parliament to discuss monetary policy, which they argue especially hurt German savers.

Reporting by Balazs Koranyi; Editing by Francesco Canepa

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