Helmut Siekmann criticizes risks for ECB due to Steinhoff (Reuters)

In view of the alleged balance sheet fraud at the furniture group Steinhoff Helmut Siekmann criticizes the risks involved for the European Central Bank (ECB). As a part of its bond-buying program, the ECB also bought a Steinhoff bond.

"In this program, the risk of a business is transferred from the private to the public sector", Siekmann said in an interview with the news agency Reuters. "This case shows the risk is too high in comparison to the benefits". 

Reuters: "Steinhoff scandal leaves ECB with financial issues of its own"