Debt levels in most advanced and emerging economies are too high, Dombret says
Growth negatively affected once total debt exceeds 90% of GDP, Bundesbank board member says
A belief that more finance means more growth was simple, clear, "sexy"- and "an ugly sham", a member of the Deutsche Bundesbank's executive board told an audience in Frankfurt on June 1.
That approach would entail focusing on policy-makers' current priority of lifting growth rates, Dr Andreas Dombret said. But it would mean neglecting what he called the "fundamental goal of achieving a stable financial system that serves the real economy".
One particular hazard was excessive debt, Dombret said
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