European Central Bank (ECB) president Mario Draghi has said that the OMT is the most successful monetary policy measure of modern times. His evidence? That share prices have increased. Less attention was granted to the record unemployment levels across the Eurozone.
Draghi has announced that legal documentation for the OMT will soon be released. The central banker also finally took a question on Cypriot capital controls. Likely a result of Draghi not speaking in his first language, he said that the "ECB is not competent for capital controls". Hiccup or not, this surprises no-one.