歐央行行長Mario Draghi週一出席一個演講時,再反駁德國人對低息環境的投訴。他指出低息環境是因經濟不足而出現的結果,亦即是病徵。
Draghi指真正的病原是環球儲蓄過多(Global Saving Glut);當人口老化就令儲蓄上升,令銀行無競價吸引儲款的需要,因而出現低息環境。
他又指出長期錄得相當於GDP 5%的德國,是這儲蓄過多問題成因。而如果有人認為歐央行需要加息,亦即暗示要歐元區加大財政開支。
Draghi returns fire over Berlin’s ECB attacks
Mario Draghi has hit back at German criticism of the European Central Bank’s interest rate policy, saying low borrowing costs were symptomatic of a glut in global savings for which Germany was partly to blame.