If you want a sign of how close Greece is to exiting the euro, listen to Mario Draghi. Three years after the European Central Bank president pledged to do “whatever it takes” to save the single currency, he’s now showing doubts he keep can keep it whole.
As Draghi arrived in Rome on Wednesday morning after late-night talks in Brussels, he was asked by Italian reporters if he would be able to close the dossier on Greece. “I don’t know,” he replied, according to Il Sole 24 Ore and Corriere della Sera. “This time it’s really difficult.” An ECB spokesman declined to comment on the reports.
The remarks suggest Draghi’s acceptance that the ECB’s powers to keep the euro area from splintering aren’t boundless. If governments fail to agree on a bailout deal that allows Greece to pay its creditors, including the ECB, monetary-policy makers may have no choice but to cut the purse strings that have kept the nation’s financial system alive.