In the face of negative interest rates, the countries of the North accuse the ECB of plotting to take their savings in order to redistribute it to the countries of the South.

Crisis open to the European Central Bank, the Northern countries no longer support the policy of negative rates conducted by the ECB.

To express her dissatisfaction, Sabine LautenSchlager (representative of Germany at the European Central Bank) has just resigned.
In Germany, the subject bristles the population who has the impression that one walks on the head.
With negative rates, we penalize the saver (who is taxed) and we favor those who go into debt.
In short: "Saving is bad, getting into debt is good". The opposite of the German mentality!
Many see it as a plot of southern European countries since the president of the European Central Bank is an Italian. Mario Draghi is caricatured in Dracula in the popular press, as the "sucker of savings" of the Germans. It is considered as being at the origin of a plot to take the savings of the countries of the North and to redistribute it to the countries of the South.
We must recognize that there is a little of that. The objective of this negative rate policy is to get the economy going again by favoring those who want to borrow rather than those who want to save.

Where is France in this debate? Are we on the side of the Latin countries and indebted?

This is very surprising but the Governor of the Bank of France sided with the Nordic countries because this policy of negative rates weakens our banks. In the banks, there is a lot of money, there is the savings of the French. Money is taxed with negative rates.
In any case, it is a real open crisis within the European Central Bank. The Netherlands and Austria are also up against the negative rates.
This is a real challenge for Christine Lagarde who will take the presidency of the ECB in a month. It is likely to sparks because it has already clearly pronounced in favor of these negative rates.

The risk, if the crisis persists, is that raises again the question of the durability of the Euro.
Can we have the same currency with countries in the North that like to save and countries in the South that like to go into debt?