ECB Nominee Blames Resistance to Negative Rates on Financial Illiteracy

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ECB Nominee Blames Resistance to Negative Rates on Financial IlliteracyEuropean Central Bank (ECB) executive board nominee and member of the German Council of Economic Experts, Isabel Schnabel, recently remarked at a European Parliament hearing that “This scapegoating [of the ECB] is extremely dangerous: it may damage the trust in the euro.” Schnabel was speaking out in defense of negative deposit rates being employed as […]

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