MADRID (Reuters) – The European Central Bank’s recent measures to combat rising government debt yields was a positive step to avoid fragmentation risks in the euro zone, Spain’s Economy Minister Nadia Calvino said on Monday.
“It is very positive that the ECB has acted swiftly and decisively to curb speculation, to avoid any fragmentation of European debt markets,” Calvino told financial event, adding that the volatility seen over the past week clearly did not match the fundamentals of the countries.
In an emergency meeting last week, the European Central Bank decided to direct bond reinvestment to help nations on the bloc’s southern rim, and to devise a new instrument to contain divergence in borrowing costs.
(Reporting by Jesús Aguado; editing by Emma Pinedo)
