Since March 2015, the European Central Bank (ECB) has been buying government and public bonds worth 60 billion euros a month. In an interview with the German financial newspaper "Börsen-Zeitung", Volker Wieland assesses the QE program. Monetary policy has taken the first step, he said. However governments don't make progress with reforms and consolidation.
Thus, government bond purchases turned out to be a double-edged sword, Wieland warned. Besides, this could lead to turbulence on the financial markets as a consequence of ultralow long-term interest-rates, which were not in line with higher expected growth rates and interest rates, he said.
Börsen-Zeitung: "Ein Jahr QE der EZB- Umstrittene Bilanz der Anleihenkäufe in Euroland"