[German Central Bank Official: Risk of European Debt Crisis Rises Sharply] According to a report by Jinse Finance, on October 10, Michael Theurer, a member of the executive board of the German central bank, stated that the recent bond sell-off in Europe is a "clear warning signal" that investors are uneasy about governments' efforts to control debt. "The current developments show that fiscal and political uncertainties can impact the government bond market. While there is no systemic sovereign debt crisis at present, the risks have risen significantly." Amid growing concerns over France's political and economic challenges, the French bond market has experienced a sharp decline. This turmoil has spread to other heavily indebted Eurozone countries, fueling speculation that the European Central Bank may eventually have to intervene to contain the shock. Theurer believes that policymakers in France and across the Eurozone appear to be "well aware of what is at stake." Like the International Monetary Fund, the German central bank has also called for the formulation of a medium-term strategy to review expenditures and focus spending on growth-promoting investments. Germany's fiscal situation is much better than that of other European and global nations, but it is also facing rising debt, making it urgent to advance fiscal consolidation. (Jin10)