Merkel ‘unhappy’ at Draghi comments

A German news magazine yesterday reported that Chancellor Angela Merkel is unhappy with ECB chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in order to boost growth in Europe.

Der Spiegel reported, without citing any sources, that she and finance minister Wolfgang Schaeuble had both called the ECB president last week to take him to task about comments he made in a speech at Jackson Hole, Wyoming in the US on August 22.

German officials were not immediately available to comment.