Volker Wieland: "The ECB's change in monetary policy is not sufficient" ("Reuters, Börsen-Zeitung, FAZ, Handelsblatt")

According to Volker Wieland, the current monetary policy of the European Central Bank (ECB) is not adequate. In June, the Governing Council had announced a slight change in its statement, omitting the possibility of further cuts in interest rates. For Wieland, this "minimal adjustment" had been overdue, however, "it was not what would have been necessary".

"A monetary tightening has been essential long since", he said to the "Frankfurter Allgemeine Zeitung". The ECB should finally announce a strategy and a time schedule for tapering off the massive bond purchases. In an interview with Bloomberg TV he reiterated that the ECB should already have talked about how to exit and "how the timing could come about".

Reuters: "EZB wagt ersten Mini-Schritt Richtung Kurswechsel"
Spiegel Online: "EZB deutet leichte Kurswende an"
Zeit Online: "Leitzins unverändert bei nulll Prozent"

Börsen-Zeitung: "Kritik an Draghis Zaudern"
FAZ: "EZB macht ersten kleinen Schritt zum Kurswechsel"
Handelsblatt: "Draghi deutet die Wende an"

Bloomberg TV: "Italy still a danger spot for the euro"