The president of the ECB, Mario Draghi testified today before the European Parliament’s Economic and Monetary Affair Committee in Brussels concerning the current Eurozone developments. In his testimony, Mr. Draghi claimed that a strong and complete deal between Greece and its creditors would be beneficial for the whole of the Eurozone.
Mario Draghi also clarified that as long as the Greek banks remained solvent and had enough collateral, the ECB will continue the cash flow towards them. According to its’ president, the ECB is fulfilling its role towards Greece as the central bank of Europe and it has provided cash to the extend of 118bn euros.
He went on to say that: “The ball is now on the side of the Greek government in order to make the next steps” and he denied to make any speculation about the possible effect that a Greek default and Grexit would have to the European economy.