ECB holds off to force politicians' hand in crisis - by David McHugh

The European Central Bank has a powerful weapon that just might push political leaders into helping solve the continent's financial crisis: withholding further support.

The ECB isn't likely to take any new steps when it meets Wednesday, analysts say, even as anxiety builds over the deteriorating outlook for Europe's economy and banking system.

ECB President Mario Draghi signaled last week that he wants to see stronger political and financial ties among the 17 countries that use the euro. If such ties are forged — possibly at a European Union summit later this month — analysts say the ECB would be more likely to reward European governments and banks with the financial shot in the arm they desperately need.


Read more: ECB holds off to force politicians' hand in crisis - Kingsport Times-News