Merkel unhappy with Draghi's apparent new fiscal focus: Spiegel

A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank 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 on Aug 22. Draghi told a conference of central bankers that it would be "helpful for the overall stance of policy" if fiscal policy could play a greater role alongside the ECB's monetary policy.

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