Europe has passed turning point but still needs ECB support

Euro currency. Facing a persistent uptick in borrowing costs, the ECB must decide on the future pace of its emergency bond buys at a June 10 meeting.

FRANKFURT: The euro zone economy has reached a turning point and the recent rise in borrowing costs reflects improved fundamentals, European Central Bank board member Isabel Schnabel told Reuters, playing down concerns that rising yields risk choking off growth.

Facing a persistent uptick in borrowing costs, the ECB must decide on the future pace of its emergency bond buys at a June 10 meeting and a growing chorus of policymakers is calling for a steady flow of stimulus, fearing that the recovery might otherwise falter.