ECB’s Draghi Looking to Move On Beyond Greece

Mario Draghi attempted to draw a line under Greece’s debt crisis, pledging further bank funding and confirming the nation’s place in the euro.

“We always acted on the assumption that Greece will remain a member of the euro area,” the European Central Bank president said at a press conference in Frankfurt on Thursday, after policy makers granted Greek lenders more emergency liquidity. “There was never a question.”

The increase marks a turning point in the most recent incarnation of Greece’s five years of turmoil, where rising political tension had led to deposit flight and tighter controls on banks. Draghi said a vote early Thursday by the Greek parliament to enact reforms, and a pledge by its creditors over bridge financing, broke the negative spiral.

Bloomberg

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