- Title: Germany's Schaeuble says agrees with IMF on "ultra-loose" monetary policy risks
- Date: 7th October 2016
- Summary: WASHINGTON D.C., UNITED STATES (OCTOBER 7, 2016) (REUTERS) WIDE OF ROOM SHOT OF AUDIENCE (SOUNDBITE) (Mandarin) CHINA'S FINANCE MINISTER LOU JIWEI SAYING: "The uncertainty and the risks facing global economy have increased, as some major economies have entered into general elections, the fallout of Brexit is uncertain, the vulnerabilities of the financial system are rising, the expectation of federal reserve rate hike is growing, geopolitical tensions is growing, terrorist attacks are frequent, all these factors have major implications on the international economy and financial markets." WIDE OF ROOM (SOUNDBITE) (English) GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE SAYING: "If the IMF itself is warning against the consequences of ultra-loose monetary policy, I think it's a sign of hope that we will take more seriously what the Bank for International Settlements is saying again, again and again. That two things together - the global overhang of indebtedness, private, public and company, together with an ultra-loose monetary policy - maybe is one of the risks we will have to tackle even since we have drawn all the lessons of the financial crisis 10 years ago." WIDE OF ROOM
- Embargoed: 22nd October 2016 15:22
- Keywords: G20 China Germany IMF
- Location: WASHINGTON D.C, UNITED STATES
- City: WASHINGTON D.C, UNITED STATES
- Country: USA
- Topics: Organization of the Petroleum Exporting Countries,Government/Politics
- Reuters ID: LVA001530BGHZ
- Aspect Ratio: 16:9
- Story Text: German Finance Minister Wolfgang Schaeuble said on Friday (October 7) he agrees with the International Monetary Fund's warnings about the banking system risks associated with "ultra-loose" monetary policy, but said it was not the place of such institutions to supervise European banks.
Schaeuble, speaking at a news conference on Germany's G20 leadership in 2017, said that the possibility of a new financial crisis could not be completely excluded.
"If the IMF itself is warning against the consequences of ultra-loose monetary policy, I think it's a sign of hope that we will take more seriously what the Bank for International Settlements is saying again, again and again," Schaeuble said.
"That two things together - the global overhang of indebtedness, private, public and company, together with an ultra-loose monetary policy - maybe is one of the risks we will have to tackle even since we have drawn all the lessons of the financial crisis 10 years ago."
He declined to directly answer questions about the financial health of Germany's largest lender, Deutsche Bank. - Copyright Holder: REUTERS
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