Volker Wieland does not expect a trade war after Trump election ("Bloomberg TV")

Prof. Volker Wieland does not expect major distortions in the United States' trade relations. According to Wieland, the US president-elect may take some protectionist measures. "But I cannot imagine President Trump engaging in a trade war," he said on "Bloomberg TV". "Germany as an open economy would be heavily affected but also the US would not benefit from that".

Regarding the euro area, Wieland expects the expansive monetary policy to continue. In his opinion, the European Central Bank (ECB) is likely to continue the bond-buying program after March 2017. However, "I think, they shouldn't do this". Governments in the euro area should use the persistent phase of low interest rates to implement reforms, he urged. "The sovereign risk premia are very low. Thus, in Europe we've lost a sense of market discipline," Wieland said.

Bloomberg TV: "Europe assessing Trump's global economic impact"
Volker Wieland, endowed chair of monetary economics at Institute for Monetary and Financial Stability, discusses what changes for Europe in the aftermath of the U.S. election and the economic agenda of President-Elect Donald Trump. He speaks on "Bloomberg Markets".