March 13, 2020 / 9:40 AM / 22 days ago

ECB must intervene to ensure euro zone states have similar borrowing costs -Italy

ROME, March 13 (Reuters) - The European Central Bank must intervene urgently to ensure euro zone member states have similar borrowing costs, the undersecretary at the economy minister, Alessio Mattia Villarosa, said on Friday.

ECB President Christine Lagarde said on Thursday the central bank was “not here to close spreads”. Even though she later rowed back, her comments reawakened fears over Italy’s public finances, infuriating Italian politicians.

“We need a radical change of course. We need urgent ECB intervention that is addressed directly to the member states to ensure a homogeneous cost of public funding,” Villarosa said in a statement. (Reporting by Crispian Balmer; Editing by Angelo Amante)

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