ECB President Mario Draghi said European governments should continue with their decisive measures after the ECB has carried the burden to tackling a set of challenges that are simultaneously economic, financial and fiscal, noting that the current stabilization should not make us pause in our responses.

He stressed on the measures adopted by euro area members so far to strengthen euro-area and global firewalls.

On the other hand, he said although the liquidity pumping by the ECB managed to calm tensions in financial markets, it may have an adverse impact which is triggering inflation.

However, he mentioned that there is no sign of any inflation threats and the bank has a range of tools at its disposal to absorb excess liquidity if that is deemed necessary in the future.