Financial Times FT.com

Merkel mauls central banks

By Bertrand Benoit in Berlin and Ralph Atkins in Frankfurt

Published: June 2 2009 17:25 | Last updated: June 3 2009 15:57

Unconventional monetary policies being pursued by the world’s main central banks could aggravate rather than ease the economic crisis, Angela Merkel, Germany’s chancellor, suggested on Tuesday.

Her surprisingly strong attack on the US Federal Reserve, the Bank of England and the European Central Bank was remarkable coming from a leader who had so far scrupulously adhered to her country’s tradition of never commenting on monetary policy.

angela merkel

Angela Merkel, the German chancellor, has criticised the world’s main central banks in surprisingly strong terms, suggesting that their unconventional monetary policies could fuel rather than defuse the economic crisis

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