Q&A: ECB President Mario Draghi – The Euro Crisis – WSJ

Mario Draghi, president of the European Central Bank, spoke with Brian Blackstone, Matthew Karnitschnig and Robert Thomson of The Wall Street Journal on Feb. 22 about the importance of austerity in Europe, the Greek bailout deal and the ECB’s recent decision to exempt its Greek bond portfolio from losses.

WSJ: What inning are we in with Greece until we know if we’re at the resolution to end all resolutions?

Mario Draghi: I don’t know baseball. But if we didn’t have that package finalized, there would be no game. So this could be the beginning of a new world for Greece where the pending financing problems have been addressed. Now the policies will have to be enacted. The Greek Government has undertaken very serious commitments in the fiscal policy and in the structural policies areas. But there are implementation risks and probably oncoming elections. The Eurogroup gave reasonable probabilities to the success of the program if the measures, especially the structural measures, were undertaken…

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