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Updated 04:20 24/02/20

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German finance minister warns of market bubbles

Duncan Richardson, News Editor
14 Sep 2015, 1:54 p.m.

Germany’s finance minister, Wolfgang Schaeuble, has warned continued money printing by the world’s Central Banks will result in massive financial bubbles. The comments came after the European Central Bank (ECB) confirmed they would increase the size of its current quantitative easing program if required.

The ECB started is 1.1 billion euro quantitative easing in program in January in attempt to stop the continents economy falling into a deflationary spiral.

During his budget speech Schaeuble warned that policy makers should learn the lessons of the 2008 crisis and not rely on money printing to reflate the economy. Instead he stressed the need for a structural reform.

Over the weekend the Bank for International Settlements (BIS) warned that debt levels are extremely high and a Fed rate rise could destabilise the global economy. The BIS confirmed total world debt is now significantly higher than in 2007. Combined public and private debt has surged 36% and currently stands at 265% of the globes Gross Domestic Product.

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