The low interest rates in Europe is driving investors after observing the Frankfurt-based private banker Emmerich Müller by Bankhaus Metzler in unnecessary risks.
“investors invest in things in which they had never invested – for lack of alternatives,” said the responsible for operational business partners Founded in 1674 traditional house. “The level of interest rates pushes investors into riskier asset classes.”
This development mountains could be dangerous: “If in many European countries pension systems in the long run no longer function, which is a social problem,” warned Müller. “When many people get the feeling that this Europeanization is to its detriment, the considerable social explosives poses.”
The European Central Bank (ECB) will flood the markets until at least March 2017 cheap money, interest rates are Moreover, at a base rate of 0.05 per cent or less abolished. ECB President Mario Draghi had nonetheless fueled the hope that the Federal Reserve further steps in the fight against the mini-inflation makes -. Possibly already at its next meeting on March 10
“I do not see the need, that the ECB again nachlegt. Nor do I believe that this bank’s policy continues to help us for a long time, “said Müller. “We are dealing with a cartel of the debtor, that is our main problem. By trying to make the interest burden portable, the central banks do to prisoners of politics. “
Müller has little hope that the ECB will scale back its expansionary course in the near future. “We currently have the tendency to do it with a drifting apart of Europe. Even more so, the ECB is in a situation where they will not initiate a turnaround. “
The low interest rates also makes the banks to provide. “The profitability of banks in Germany is much too low by international standards,” stated Mueller, who is currently also Chairman of the Bankers Association Hesse. “At the moment, all banks are trying reasonably develop their business models and to reduce dependence on the interest margin. Some that will not make you. “