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"What has been done at Frankfurt is almost criminal," argues chief economist at one the world's largest asset managers

Europe is trying to mend its excess debt by trying to fix the government sector first, which complicates public sector recovery, says Invesco Chief Economist John Greenwood.

Invesco Chief Economist John Greenwood. | Photo: PR / Greenwood

The European Central Bank is currently making two macroeconomic mistakes, says Invesco Chief Economist John Greenwood.

"The ECB's quantitative easing is done the wrong way -- directed at the wrong counterparties, therefore not creating money and spending power. Furthermore, negative rates will not raise spending and inflation but damage long-term savings," says Greenwood, who spoke to journalists earlier this month at an exclusive press event in London.

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