`Helicopter Money' Hurts Banks, ECB's Weidmann Tells Newspaper
- States, taxpayers will `pay' for cash to stimulate growth
- Government reforms are needed to improve economies: Weidmann
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European Central Bank Governing Council member Jens Weidmann warned against starting a discussion about handing out cash to stimulate growth, Funke Mediengruppe reported, citing an interview.
“Helicopter money isn’t manna falling from heaven, but would rip huge holes in central bank balance sheets,” Weidmann, who heads Germany’s Bundesbank, said, according to the newspaper. “The euro area states and taxpayers would pay the bill in the end.”