ECB – much ado about something
Report Date: 1st July, 2022 The ECB, faced with any threat of EU fragmentation, has stated that it has the resources and can create the tools to control yield spreads in the Eurozone. Short term, this makes being short the sovereign bonds of southern EU states risky indeed. Longer term, it makes the EUR less attractive as a global currency because it damages risk pricing by markets.
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