The last financial crisis has left Europe with very few tools to address the next economic downturn, the chief executive officer of Dutch multinational DSM told CNBC Tuesday.
The International Monetary Fund warned Monday of risks to economic growth in euro zone countries, coming specifically out of Germany and Italy. However, there are concerns that the sovereign debt crisis and the European Central Bank's (ECB) subsequent bond-buying program have left the region with little options to address another economic crisis.
"We need to realize that from a monetary perspective there is no ammunition left in Europe, (the) interest rate is at an all-time low, and also the QE (quantitative easing) program which we are now building down ... So if we really get to an economic slowdown in Europe, I think the central banks and governments, from a monetary point of view, have no ammunition left to address it," Feike Sijbesma, CEO of DSM told CNBC at the World Economic Forum in Davos.