Dinning: Europe needs QE to avoid Lehman-style collapse

Kames Capital's Bill Dinning said the ECB needs to urgently introduce quantitative easing to avoid a situation that would make the Lehman Brothers collapse look like "child's play".

The head of investment strategy and economics said Europe continues to focus on a policy of austerity, whereas the market is worrying about where growth is going to come from. "I want the ECB to join the likes of the Bank of England, the Bank of Japan, the Fed and the Swiss National Bank who are either launching further QE or weakening currencies. They need to focus on growth not austerity and they need to use unlimited resources to bring down Italian bond yields. "This is not just about Europe, it is about the world's financial system and if not avoided it could lead to a failure whi...