Bloomberg News

German Bailout Skeptics Criticize Draghi, Handelsblatt Says

July 26, 2012

German coalition lawmakers Frank Schaeffler and Klaus-Peter Willsch, who’ve voted against measures to bail out cash-strapped euro-region nations, criticized European Central Bank President Mario Draghi’s announcement that the bank will do whatever is needed to preserve the euro, the Handelsblatt newspaper reported.

Schaeffler, a Free Democrat, said Draghi is pillaging German savings as his policies will boost inflation, according to the newspaper. Willsch, a budget-committee member from Chancellor Angela Merkel’s Christian Democratic Union, said rising prices for houses, farmland, gold, coins and classic cars in Germany reflect a flight to tangible assets as a precursor to accelerating inflation.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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