ECB Governing Council member Mario Centeno said the new instrument will “fight the risks of fragmentation” as monetary policy is gradually normalized. He emphasized that fragmentation has to be dealt with “in their genesis and not afterwards”.
The instrument “will certainly demonstrate the determination of the euro system and the council of governors in containing these risks”.
“There is no single typology of indicators to measure the materialization of fragmentation,” he added. “There is no goal regarding specific yield spread values”.
