ICYMI, the news on the ECB's cunning plan to address fragmentation:
What is 'fragmentation?' I hear you ask, check this out:
Update, this via Reuters:
- Details of the scheme are being ironed out by ECB staff.
- Sources close to the matter said the scheme would likely have conditions, such as that countries comply with the European Commission's economic recommendations. These are issued annually by the European Commission and typically address a country's structural issues, such as its labour market or pension system.
- The sources said the ECB will spell out that the scheme's goal is simply keep bond spreads in line with their economic fundamentals, rather than bringing them to near-zero like they were before a crisis of confidence a decade ago.
