Lora Smith FRANKFURT, August 6 -- More and more fierce critics go to the European Central Bank: The low interest rates ruined allegedly Germany savers. Behind this is fundamental mistrust of the common currency. For a while it had become quiet around the European Central Bank (ECB) and its president Mario Draghi. But three events have recently ensured that the furor of the public or published opinion on the ECB's low-interest-rate policy rages again with full force. Draghi's implicit announcement to re-launch the Federal Reserve's controversial bond-buying program and increase the penalty rates commercial banks must pay when they park money with the ECB. The early end of the era of the Italian and the inauguration of the former IMF head Christine Lagarde, who comes from France, where they allegedly do not have so with solid finances. Lawsuits against banking union and bond purchase program before the Federal Constitutional Court, which make the monetary policy of the ECB on the topic in the evening news. Those who read business press these days, can not avoid the impression that the ECB and Draghi had conspired against all the banks and savers in Germany shortly before his retirement, so that they would keep him in as bad a memory as possible. Sometimes it is said that the ECB, which is by definition independent, needs the Constitutional Court "urgently to take a shot at the bow" - whatever that means. Elsewhere there is talk that the penalty interest "felt" meet all 83 million people in the country - knowing that so far only about 30 of the approximately 1800 German banks have introduced penalty interest on call money or checking accounts, and that only for wealthy with deposits 100,000 euros or even higher. The newspaper "Börsenzeitung", as the central organ of the financial center of Frankfurt, even states that under Draghi a "brutal redistribution" from private to state took place and the ECB had "released the commercial banks". In fact, the assets of the Germans in Draghi's term has grown dramatically to now more than six trillion euros - and not as insinuated shrunk. Moreover, most banks still generate profits that are sufficient enough to pay their executives significantly above-average salaries, which applies not only to Deutsche Bank, but also to the German savings banks, which are widely pampered in Germany.
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