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Schaeuble says ECB not pursuing best monetary policy for Germany

German Finance Minister Wolfgang Schaeuble arrives at a euro zone finance ministers meeting in Brussels, Belgium, August 14, 2015.
Francois Lenoir | Reuters

German Finance Minister Wolfgang Schaeuble said on Monday that the European Central Bank's responsibility for the entire euro zone meant the institution was not implementing the best monetary policy for Germany.

He said it was necessary to recognise that "the ECB has to pursue a policy in a currency union for all 19 member states that is not the optimal monetary policy for Germany".

Schaeuble also said that all institutions, including the ECB, needed to be open to being debated publicly.

In recent weeks the ECB has been subject to criticism from some German politicians for its ultra-low interest rates.

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