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ECB ready to do more to avoid euro 'fragmentation': Schnabel
The European Central Bank is ready to do more to avoid financial fragmentation in the euro zone, ECB board member Isabel Schnabel said on Thursday, as debt-laden, coronavirus-stricken countries see their borrowing costs climb in bond markets. Italy and other southern European countries have seen the gap between their government bond yields and those of safe-haven Germany widen in the last two weeks despite heavy buying by the ECB as part of its response to the pandemic. Investors have been worrying about these countries’ ballooning government debt burdens after their demands for joint bond issuance at a euro-zone ... (full story)