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.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.