You can't help feeling a little sorry for the President of the European Central Bank (ECB). The normally smiley Italian President of the bank, Mario Draghi, should be celebrating a slight resurgence of the euro zone economy, but instead finds himself trapped in the center of the latest storm over Greece.
The euro zone's central bank, still aiming to counter deflation by printing 60 billion euros-a-month ($66 billion), is set for a rate decision on Thursday. Draghi, himself, will know only too well that the institution is strictly independent and can't be seen as politicizing any situation that
Sadly for Draghi, a baying pack of journalists await him on Thursday to ask him exactly the type of questions he doesn't want to answer: What's up with Greece's banks?
"The focus will remain firmly on the ECB's next move on ELA (emergency liquidity assistance)," says Frederik Ducrozet, a euro zone economist at Credit Agricole, in a note on Monday.