ECB's Kazimir: Eurozone yield gains are not dramatic for now

Comments from Kazimir in an interview with Bloomberg:

  • Bond yields must reflect economic fundamentals
  • EU fiscal response is lagging behind US

His main message was that Europe needed to improve the fiscal response.

"My concern is that compared with the enormouse US fiscal impulse, the effects of the European one will kick in with a major delay -- we're talking months and years," he said. "The joint fiscal reaction is lagging behind and needs to pick up its pace to support the recovery."

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