Italy had financed its high debt level by raising taxes, however, in doing so, Italy had thwarted its economic performance, Wieland said. Monetary policy could not generate sustainable real growth nor higher employment.
In Wieland's view, the expansionary monetary policy of the European Central Bank (ECB) is not adequate. To him, the ECB is at full speed whereas it should slow down its monetary policy.
Handelsblatt: Volker Wieland: "Italien sollte ein Hilfsprogramm beantragen"