June 18, 2014 / 11:02 AM / in 3 years

Deutsche Bank's Jain worried ECB could take pressure off reforms

BERLIN, June 18 (Reuters) - Deutsche Bank AG’s co-Chief Executive Anshu Jain is worried that the European Central Bank’s decision to cut rates to record lows and pump money into the euro zone economy could remove the incentive for states to carry out economic reforms.

Jain said in a speech on Europe in Berlin that the central bank’s role in tackling the euro zone debt crisis had been positive, but added: “I do worry that the ECB may be creating preconditions that are taking pressure off.”

In a speech that overall emphasised the need for economic growth in Europe, Jain added that quantitative easing measures that had been applied successfully in the United States might not work as well in the European context. (Reporting by Madeline Chambers; Writing by Stephen Brown and Alexandra Hudson)

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