Draghi Takes Swipe at European Banks ‘Angry’ at Negative Rates

(Bloomberg) --

European Central Bank President Mario Draghi shredded recent comments from Deutsche Bank CEO Christian Sewing that negative rates would ruin the banking system.

Costs at European banks are "completely way off," Draghi told reporters in Frankfurt on Thursday. And the need to adjust the business model to digitalization "is much more compelling than being angry about negative rates."

That won’t go unnoticed at Deutsche Bank’s twin towers in Frankfurt.

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Draghi Takes Swipe at European Banks ‘Angry’ at Negative Rates

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