ECB is crafting a crisis tool to activate if bond yields jump – report

It's a matter of time until periphery yields explode to the upside once again. Italy's stats bureau warned of a 0.7% contraction in growth (annualized) in Q1 and the pandemic has piled on more debt.
The ECB will likely delay deficit rules until 2024, so that's when the reckoning will come.
Italy 30-year yields: