Economics and Policy Germany and the ECB

Q&A with Volker Wieland on Germany and the ECB

15 Jun 2020

ECB asset purchases are a proportionate response to the current crisis and more deeply negative rates the only other option even if the banking sector does not like them, says Prof Volker Wieland, holder of the Endowed Chair of Monetary Economics at the Institute of Monetary and Financial Stability at Goethe University in Frankfurt. He is also a member of the German Council of Economic Experts, the highly respected, fully independent academic body that advises the government on economic policy issues. On the European Commission's recovery plan Prof Wieland notes that transfers rather than loans are a sensible measure in a crisis but should be the standard way of proceeding in the future.

Volker Wieland spoke to Beat Siegenthaler of the UBS Knowledge Network from Frankfurt on 15 June 2020.

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The views expressed in this interview are those of the interviewee and do not necessarily reflect those of UBS.