The European Central Bank must end its unprecedented stimulus measures to prevent a new financial crisis from erupting in the eurozone, Germany's top economic advisers have warned.
Berlin's Council of Economic Experts - known as the country's five "wise men" - said the ECB must consider tapering its bond-buying measures early to avoid dangerous imbalances from building up in the bloc.
The Council's annual report delivered a scathing verdict on the ECB's recent measures and the perils of record low interest rates.
"Monetary policy is leading to a build-up of risks to financial stability which could pave the way for a new financial crisis," they said.
"Persistently low interest rates erode the earnings of banks and life insurance companies, and raise the appetite for taking risks. It is important to avoid delaying an exit from the low interest rate environment for too long." » | Mehreen Khan | Wednesday, November 11, 2015
