How far could the German 10-year interest rate fall?

Financial markets were inclined to think that the German 10-year interest rate would gradually rise as the euro zone’s monetary policy was slowly normalised. But if there is at once : A growth slowdown in the euro zone; Stable core inflation; An enduring rise in risk aversion, in particular in Europe given the Italian crisis; The possibility of the ECB ending up not normalising its interest rates; Persistent abundant global liquidity, then the German 10-year interest rate could remain at a very low , barely positive level .