Nagel lays out conditions for ECB anti-fragmentation instrument
Bundesbank president says it should be temporary and only used in “exceptional circumstances”
Joachim Nagel, Deutsche Bundesbank president, said the European Central Bank could tackle widening sovereign spreads between eurozone member states “only in exceptional circumstances”.
In a speech on July 4, Nagel restated his view that the ECB should squarely focus on bringing inflation back to the 2% target. He laid out “narrowly defined conditions” for future asset purchases.
As the ECB announced the end of all net asset purchases after its monetary policy meeting on June 9, and indicated
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