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ECB's Villeroy says Draghi criticism 'excessive and dangerous': report

Published 05/25/2016, 02:30 AM
Updated 05/25/2016, 02:40 AM
© Reuters. Villeroy de Galhau listens to questions duringa Farewell Symposium in Paris

MADRID (Reuters) - Personal criticism of European Central Bank chief Mario Draghi is excessive and dangerous, ECB governing council member Francois Villeroy de Galhau said in an interview in Spain's El Pais newspaper published on Wednesday.

"It's normal that there is debate on monetary policy, but the personal criticism of Mario Draghi is excessive and dangerous," he said when asked about German complaints against the ECB.

"It seems to me to be excessive to talk of politicization of the ECB, that it is under the control of this country or another, or that it has been the reason for the growth of a certain party in Germany. It's false."

Villeroy also warned of the high risks associated with Britain leaving the European Union, saying there would be financial turbulence, especially for British banks, and consequences for the monetary union.

"It can't expect to leave Europe and at the same time think it can participate in the financial market union or that the role of the City will be the same."

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