Earlier today, we reported that Deutsche Bank CEO John Cryan called for an end to Europe’s cheap-money policies and asked that the European Central Bank not use the strengthening euro as an excuse to keep printing money...
According to Bloomberg, Cryan said that the bank is “seeing signs of bubbles” across capital markets while low interest pummel European banks’ earnings.
In a front page article, the WSJ takes aim at the "biggest market puzzle" of our times: the bizarre disconnect between growth and inflation, where on one hand government reports of strong, coordinated, global economic growth and tumbling unemployment (at least in the US and Japan) are offset by the complete lack of concurrent reflation. Some examples:
The head of Germany’s largest commercial bank warned of the fallout from cheap money, cautioning against using the strong euro as a justification for printing more.
Bloomberg reports that the Deutsche Bank Chief Executive Officer John Cryan called for an end to the era of cheap money in Europe, saying that the prolonged period of rock-bottom interest rates is starting to inflate asset bubbles and putting the bank at a disadvantage to U.S. rivals.
Concluding a months-long saga in which central and eastern European nations revolted against Brussels' refugee policies, on Wednesday the European Union’s highest court ruled that EU states must take in a share of refugees who reach Europe, dismissing complaints by Slovakia and Hungary and reigniting an angry row between east and west.
Authored by Guy Milliere via The Gatestone Institute,