Issing: Asset price rises can harm price stability

The chief economist at the European Central Bank, Otmar Issing, warned in a column on Thursday that a bubble in asset prices could pose risks to overall price stability.

"An unsustainable change in asset prices sooner or later will present major risks for price stability," Otmar Issing wrote in a guest column in Thursday's Boersen-Zeitung newspaper.

"We have learned on many occasions that excess liquidity can show up in excessive asset valuations and not only in consumer price inflation," he w