DRAGHI: The ball is in Greece's court

Mario Draghi

European Central Bank (ECB) boss Mario Draghi is currently speaking at the European Parliament, being quizzed by elected members.

If you’re that way inclined, you can watch the whole thing here.

Investors are looking out for new comments on quantitative easing (QE), the health of the eurozone economy, and most importantly, Greece.

Draghi’s opening statements were pretty boilerplate stuff — he reiterated that there was been a clear improvement in the eurozone’s economy, but that growth remains modest.

On Greece, Draghi is insisting that the ECB’s liquidity assistance (the emergency funding keeping the banking system propped up) will continue so long as the banks are judged to be solvent. But he added that the government could not increase Greece’s ceiling for market borrowing unless there is a “credible prospect of an agreement and a disbursement” (of bailout money).

He went on to say that Greece’s future is a political decision, not one for central bankers. Most importantly, he became the latest in a long line of European policymakers to say that the ball is in Greece’s court.

We’ll keep this post updated as questions come, and Draghi tells us more.

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