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German FinMin backs Draghi's view that more reforms, investment needed

Reuters

BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said on Wednesday that he agreed with European Central Bank President Mario Draghi that more economic momentum, investment and structural reforms were needed in Europe.

Schaeuble has long been critical of the ECB's low interest rate policy. On Wednesday Draghi rejected German criticism of the bank's super-loose monetary policy, calling sub-zero interest rates a necessity and urging Berlin to share the burden with more spending.

(Reporting by Gernot Heller; Writing by Michelle Martin)