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European Central Bank to play larger role in resolving debt crisis

European Central Bank to play larger role in resolving debt crisis
Thursday, December 1, 2011 - 9:28am

The head of the European Central Bank hinted thursday that the bank was ready to play a bigger role in the resolution of Europe's debt crisis.

Speaking to the European Parliament the bank's governor Mario Draghi said his bank would do more but only after the 17 countries that use the euro currency lower borrowing costs for governments. The big worry in the markets now is that Italy, with its debt mountain of more than two-and-a-half trillion dollars, is just too big to bail out under current rules.

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