Mario Draghi defends ECB independence after German criticisms

Bank holds eurozone interest rates at zero as chief goes on attack after complaints about impact of policies on Germany

The European Central Bank president has launched a robust defence of the institution's independence after criticism from Germany that rock-bottom euro interest rates are hurting savers and fuelling rightwing nationalism.

Mario Draghi used his latest press conference on Thursday to counter an attack from Germany's finance minister, Wolfgang Schiuble, who had said record low rates were causing "extraordinary problems" for German banks and pensioners and risked fuelling the rise of Eurosceptics in Germany.