Forex Flash: Draghi's 'whatever it takes' pledge faces Italian rebellion - NAB

According to NAB, after the deadlock in the Italian Senate, which further confirms political instability, "it will be hard to see just how ECB President Draghi’s ‘whatever it takes’ pledge with respect to preserving the sanctity of the euro can extend to writing as blank cheque in favour of the Italian fiscal authorities" NAB says. The bank adds "any agreement to buy Italian debt can’t come without Italy submitting to the conditionality of the ECB’s as yet inactivated OMT programme."