Deutsche Bank’s chief executive has warned of the “fatal consequences” of the European Central Bank’s negative interest rate policy, which he said punished savers and could even undermine the recovery.
While Mr Cryan praised the central bank for helping to revive the economy following the financial crisis, he said low rates had dire implications for savers and pension plans.
Mr Cryan said the policies also encouraged companies to “refrain from investments due to ongoing uncertainty”.
http://www.telegraph.co.uk/business/2016/08/24/deutsche-boss-negative-interest-rates-are-fatal/