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ECB can't replace government action

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(Globalpost/GlobalPost)

The European Central Bank cannot step into the breach left by a lack of action by eurozone governments to solve the region's debt crisis, ECB chief Mario Draghi said on Thursday.

"We cannot replace lack of capital in the banking system or the lack of actions by governments," Draghi told a news conference after the ECB left its interest rates unchanged for the ninth month in a row. "The most stimulative measures is to pay the arrears. The ECB cannot replace governments on that front, or on structural reforms," he said.

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http://www.globalpost.com/dispatch/news/afp/130404/ecb-cant-replace-government-action