ECB to devise new tool to help indebted euro zone members

Summary by Ground News

ECB outlines plan to shield weaker eurozone economies from rising borrowing costs. Move signals that the bank will stand behind the region's embattled governments. Bond yields in southern Europe have surged by much more than those in Germany. Borrowing costs for Southern European countries have jumped in recent days.

4 months ago·Frankfurt, Germany

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Reuters

ECB to devise new tool to help indebted euro zone members

The European Central Bank will skew reinvestments of maturing debt to help more indebted members and will devise a new instrument to stop fragmentation, it said on Wednesday, seeking to temper a market rout that has fanned fears a new debt crisis.

4 months ago·United Kingdom

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CNBC

European Central Bank to create new tool to address fragmentation risk after bond yields surge

The European Central Bank announced Wednesday it plans to create a new tool to tackle the risk of fragmentation in the euro zone.

4 months ago·United States

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Financial Post

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4 months ago·Canada

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Business Insider

ECB says it's preparing an anti-crisis tool as Italy bond yields surge

The ECB is back in crisis-fighting mode after Italian bond yields skyrocketed in response to potential interest-rate hikes.

4 months ago·United States

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Business Standard

ECB to create new tool to address fragmentation risk in euro zone

ECB had an unscheduled, emergency meeting earlier on Wednesday to address higher borrowing costs for many European govts

4 months ago·India

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Star Tribune

European Central Bank vows backstop against market turmoil

The European Central Bank vowed Wednesday to create an unspecified market backstop that could be used to buffer some countries against bond market turmoil similar to what shook the 19-country eurozone during a debt crisis more than a decade ago.

4 months ago·Minneapolis, United States

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