EU Bank Bosses Warn Of "Grave Consequences" If ECB Keeps Cutting Rates

[Mackin USA]

The ECB's imposition of negative interest rates have created an "absurd situation" in which banks don't want to hold deposits, rages UBS CEO Sergio Ermotti, arguing that this policy is hurting social systems and savings rates.

https://www.zerohedge.com/news/2019-09-04/eu-bank-bosses-warn-grave-consequences-if-ecb-keeps-cutting-rates