Mario Draghi assures OMT will remain active as long as necessary

 
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ECB head Mario Draghi said today at the World Economic Forum in Davos, Switzerland that the sovereign bond purchase program (OMT) would remain active for "as long as necessary." He also added that the Eurozone will benefit from ECB's accommodative policy.

Draghi affirmed that the LTRO program had helped avoid a credit crunch and contributed to restoring a relative calm in the Eurozone. The ECB chief also emphasized the importance of the implementation of structural reforms and said that he expects the Eurozone to recover by the end of the year.