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MNI INTERVIEW2: TPI To Shield Spain From Italy Nerves-Official

(MNI) Rome

The ECB's new Transmission Protection Instrument will protect countries like Spain from debt-market disturbances, a senior official says.

The European Central Bank’s spread-compressing Transmission Protection Instrument will shield Spain from the fallout of any market nerves elsewhere in the eurozone, Spain’s Treasury Secretary General Carlos Cuerpo told MNI, hailing the new tool as a sign that of a shift in the ECB’s approach since the debt crisis a decade ago.

Cuerpo pointed to the stability of Spain’s risk premium last month when the collapse of Italian Prime Minister Mario Draghi’s coalition led him to say he would resign after September elections.

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The European Central Bank’s spread-compressing Transmission Protection Instrument will shield Spain from the fallout of any market nerves elsewhere in the eurozone, Spain’s Treasury Secretary General Carlos Cuerpo told MNI, hailing the new tool as a sign that of a shift in the ECB’s approach since the debt crisis a decade ago.

Cuerpo pointed to the stability of Spain’s risk premium last month when the collapse of Italian Prime Minister Mario Draghi’s coalition led him to say he would resign after September elections.

Keep reading...Show less