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