There is no way out of zero interest rates despite their serious drawbacks

When a country has had zero interest rates for a long period of time, it becomes difficult to exit this zero-interest-rate policy due to the losses for lenders and solvency problems for borrowers that an increase in interest rates would generate . And yet zero interest rates give rise to major problems: the appearance of “zombie” companies, incentives for corporate concentration, weakening of banks. A zero-interest-rate policy is therefore both irreversible and dangerous when it is long-lasting .