Mario Draghi defends ECB policies in face of German criticism

European Central Bank (ECB) president Mario Draghi defended his stimulus policies to critical lawmakers in Berlin, yesterday, while reaffirming the urgency to step up structural reforms.

“Low interest rates today are necessary for a return to higher interest rates in the future,” Mr. Draghi said in opening remarks to a 90-minute closed-door session in the German parliament.

“In order to reap the full benefits of our monetary policy measures, other policy areas must contribute much more decisively, both at the national and at the European level.”