MUNICH: The chief executive of Europe's largest insurer, Allianz, on Thursday blasted the European Central Bank's ultra-cheap money policy as a threat to the single currency's cohesion and a driver of further financial market ructions.
"We are very skeptical about this policy of 'cheap money' in the euro zone," Diekmann said in remarks on the insurer's 2014 results before he turns over the company's helm to Oliver Baete in May.
"Its benefits are controversial; from a political perspective, it has the potential to blow the cohesion of monetary union to pieces and it also triggers further turbulence on the financial markets," he said.
The ECB is preparing to begin buying euro zone government bonds in an effort to help kick-start the bloc's flagging economy.
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