ECB's German board member pushes back on court challenge
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FRANKFURT (Reuters) - The European Central Bank's super easy monetary policy is necessary and its benefits far outweigh its side effects, ECB board member Isabel Schnabel said on Saturday, pushing back on a court challenge from her native Germany."Without the Pandemic Emergency Purchase Programme, we would probably have found ourselves by now in the middle of a severe financial crisis with unforeseeable consequences for the economy, employment and price and wage developments in the euro area,"..