Germany warns over risks of QE

The ECB’s bond-buying decision risks deterring eurozone governments from taking steps to restore their countries’ competitiveness, German Finance Minister Wolfgang Schäuble has said.

“The only problem we see is the moral hazard,” Schäuble said on a World Economic Forum panel in Davos, Switzerland.

“Some people could misunderstand that they don’t have to do what they have to do as governments, as parliaments, and so on. Because to implement structural reform is always a difficult political task.”