MANNHEIM, Germany, March 17 Tue Mar 17, 2015 6:42am EDT
MANNHEIM, Germany, March 17 (Reuters) - The economic stimulus stemming from the European Central Bank's quantitative easing (QE) programme was felt mainly until early this year but concerns about a hangover it may cause rose in March, the president of German think tank ZEW said on Tuesday.
"My feeling is that the boost in confidence caused by QE came mostly, I would say, until January and February," ZEW president Clemens Fuest said.
"Currently a lot of people think about the downside, you know, one obviously being the bubble in bond markets. If you look at the return on euro zone government bonds, I mean it's really at a point where it cannot go much lower," he said.
"I think the ECB itself has probably underestimated the effect of the programme on the exchange rate and maybe even on returns," Fuest added.
He also said that the situation in Greece appeared to be worsening every day and there was too much focus on Greece leaving the euro zone. He said his Plan A regarding Greece would be to try to find a way to keep the country in the euro zone. (Reporting by Kirsti Knolle and Till Weber; writing by Erik Kirschbaum in Berlin; Editing by Michelle Martin)
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