More than a decade after the financial crisis of 2008, the ECB’s accommodative monetary policy is being questioned. Many economists are critical of the low interest rates and asset buyback programmes, citing the limited impact of such an approach on credit growth, the collateral damage that it causes (i.e. lower profit margins for banks, the development of zombie companies (a fragile company only generating enough cash to pay interest on its debts) and the risk of a property bubble), and the unwarranted support for European states whose solvency is under threat, in other words every country except Germany and the Netherlands, according to these economists.