ECB will “rapidly” roll out anti-fragmentation instrument: de Guindos

MILAN (Reuters) – The European Central Bank will “rapidly” implement a scheme to temper a divergence in the borrowing costs of euro members, ECB Vice President Luis de Guindos said on Thursday, a day after policymakers authorised the design of such an instrument.

“We have a full commitment in order to elaborate and to design and to put in place rapidly an instrument to deal with unwarranted fragmentation, de Guindos told a conference.

“The main message of yesterday’s meeting is our full commitment to deal with fragmentation,” he added, saying he was confident the details of the scheme would be agreed upon.

(Reporting by Francesco Canepa; Writing by Balazs Koranyi)