FXstreet.com (Barcelona) - According to reports by Fitch Ratings as well as the British newspaper The Daily Telegraph the ECB is indeed planning to set yield limits on Eurozone sovereign bonds, despite the fact that the central bank denied the news on Monday. The aim of such a move would be to avoid spikes in risk premiums of such countries as Spain or Italy.

The Daily Telegraph assures that Ulrich Bindseil, ECB Deputy Director General of Market Operations, will be the person responsible for the coordination of Eurozone central banks and for establishing guidelines for them.

A EU official told the British newspaper that the central banks are in contact to discuss the pros and cons of the project, although according to other sources various committees are already working on a common proposition.

Meanwhile, Fitch Ratings informed on Tuesday that the ECB could take action even without the Bundesbank's consent. The agency also said in the report that the EU crisis is heading towards a resolution and that the block will remain united. It has also stated that Italy does not need to implement further austerity measures.