The monetary policy had negative consequences for the banks as the low-interest rate policy led to long-term risks in the banking sector. In Wieland's view, monetary policy could stimulate demand, however, "monetary policy cannot create sustainable growth", he warned. With a normalization of the monetary policy and a return of the risk premia for sovereign bonds, governments were inclined to implement necessary reforms.
Regarding the developments in Great Britain and the US, "Brexit is the bigger shock", Wieland said. The withdrawal from the EU would have long-term consequences.
Der Aktionär TV: "Professor Volker Wieland: Brexit erschreckt mehr als Trump" (10 min.)