FXstreet.com (Córdoba) - The Outright Monetary Transactions program (OMT) has removed unfounded euro fears and eased market concerns, ECB President Mario Draghi said Tuesday. Speaking at a conference in Berlin, Draghi stated that ECB measures can only be a bridge to a more stable future; however, he said that OMT does not solve underlying debt crisis and government measures must follow.
Mr. Draghi reiterated that the euro is irreversible and that recent upturn in sentiment strengthens rather than weakens EU governments' commitments to reform.
ECB President said that he has "enormous respect for the Bundesbank", and many ECB members share similar concerns. He goes on saying that ECB actions don't represent financing states.