Euro zone: Interest rates will remain very low; what consequences should we expect?

Euro-zone interest rates will remain very low as a result of the ECB’s expansionary monetary policy, the excess savings, and the restrictive fiscal policy in the euro zone as a whole. So what should we expect for the euro-zone economy? Weakened banks, and therefore continued disintermediation of corporate financing; Low productivity due to the survival of zombie firms; Rising real estate prices; An obstacle to a significant appreciation of the euro despite the growing US external deficit.