ECB is killing the middle class

The interest rate policy of the ECB and Mario Draghi has been devastating for the normal people in Europe, the last 10 years. Now Draghi has dropped the deposit rate at the ECB even more to -0.50 % for the banks to deposit their excess deposits. So more and more banks want the banks in Europe to go for negative interest rates for the end customer. Of course this would be an incredible blow for every household in Europe.

Mario Draghi throwing free money at the big companies

Now, more and more banks and executives are opposing this policy of the ECB and correctly. The plan to inject more money in the economy this way does not work. To the contrary, more people than ever deposit their money in a bank account, because of anxiety of what's about to happen. It is counterproductive what the ECB does. It keeps money in the "safes" instead of injecting it into the economy. It only benefits the multinationals to lend more cheaply. Or to refinance their debt more cheaply.

It seems like the days of Draghi are almost over, and everybody is hoping for another policy by Lagarde, the next chairman of the ECB. With decent interest rates for everybody!

Let's hope,

Sincerely,

Pele23