The German Secretary General of the Economic Council of the CDU, Wolfgang Steiger, has highlighted the growing economic crisis in Europe. The negative interest rates of Draghi and the ECB have totally failed. He has pointed out that despite various EU stress tests for banks, time and again they continue to fail. He has stress himself that this does not strengthen the confidence in the rules or Europe. He has come out and bluntly states that ONLY reforms will work, not low interest rates.
This post was published at Armstrong Economics on Jul 10, 2017.
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