In view of the inflation trend, the ECB could raise interest rates earlier. Besides, the ECB urgently needed to present a strategy how to reduce the central bank's balance sheet.
Wieland warned against rising risks for financial stability in the current situation. He wrote that inflation could increase faster, more risky credits could be issued, more unproductive investments could be undertaken and resources could be allocated in the wrong way.
Furthermore, Wieland asked the governments to contribute to the stabilization of the euro area and to finance themselves on their own. He criticized that the governments didn't make use of the favorable situation in order to consolidate and gain room to maneuver.
Welt am Sonntag: "Guter Rat für Deutschland: Europäische Geldpolitik"
Spiegel Online: "Wirtschaftsweiser fordert Abkehr von lockerer Geldpolitik"
Focus Online: "Fünf Maßnahmen, die Deutschland ergreifen muss, um erfolgreich zu sein"
Handelsblatt: "Ökonom Wieland warnt: EZB könnte Wende zu spät einleiten"