Jens Weidmann on the soap box
- Returns must be earned by companies
- ECB cannot guarantee minimum returns to savers
More comments telling savers to jog on. I don't think his point on companies can be argued against.
- Exit from low rate policy requires structural reforms
- Deflation risks are limited
- Expansive mon pol may create financial stability risks but ECB expansive policy is appropriate
- Higher real rates require higher productivity and growth