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MNI INTERVIEW: TPI A Panic Move ECB Will Lament - Kraemer

(MNI) Brussels

Ex-S&P global rating chief sees ECB boxed in by its new TPI tool.

The ECB badly overreacted in deciding to launch the Transmission Protection Instrument which will bring unwelcome repercussions, Moritz Kraemer, former head of global ratings at S&P, told MNI.

“I think that the ECB panicked way too early and raised the white flag … It was totally unnecessary, dangerous, and I think it will come back to haunt them,” Kraemer told MNI in an interview.

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The ECB badly overreacted in deciding to launch the Transmission Protection Instrument which will bring unwelcome repercussions, Moritz Kraemer, former head of global ratings at S&P, told MNI.

“I think that the ECB panicked way too early and raised the white flag … It was totally unnecessary, dangerous, and I think it will come back to haunt them,” Kraemer told MNI in an interview.

Keep reading...Show less