The ECB needs to explain itself

The ECB needs to explain itself
ECB actions worry German banks.

ECB officials need to be able to spell out the details of their monetary policy strategies in ways that the public can understand

Finland’s central bank governor, Olli Rehn, has reiterated his call for the European Central Bank to conduct a long-overdue review of its policy framework. The upcoming change of leadership at the institution – with Christine Lagarde, the International Monetary Fund’s managing director since 2011, likely to succeed Mario Draghi as president – offers an important opportunity to heed that call.

When the ECB was established 20 years...

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