- Sees ECB bond buying as critical
- Government has let tax windfall slow pace of consolidation
- Calls for expansive German fiscal policy not justified
- Slowdown hurting export sector but whole economy could be hit
Reaction details (06:03)
- No reaction is seen across asset classes following this report as these comments are in-fitting with those seen last week from German officials.
Analysis details (06:04)
- Last week Bundesbank's Dombret said ECB measures may leave difficult legacy for financial stability and sees cyclical and structural pressure on German bank profits.
19 Nov 2012 - 06:00 - Fixed Income Economic Commentary - Source: NDRC
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