ECB's De Guindos: ECB committed to addressing bond-market fragmentation

De Guindos on Bloomberg TV
'Fragmentation' is a fancy way of saying that Italy has to pay more to borrow than Germany. The idea that borrowing rates for a deficit-ridden, black-hole-of-growth like Italy should be the same as Germany — or even close — is utterly ridiculous, but not as ridiculous as the idea that a