03/10/2016 - Former ECB Chief Economist: Negative Interest Rates Have Tremendous Negative Consequences For The Financial System
“Low investment is certainly not due to too high interest rates. It’s due to regulation, political uncertainty, global uncertainty, etc. I don’t expect that negative interest rates are really a solution to present problems. The reduction of interest rates, if it could be done, deeper into negative territory would not change anything but it has tremendous negative consequences for the financial system.”
– Otmar Issing, the former Chief Economist of the European Central Bank & a former member of its Board
link here to the reference
