With the OMT programme, the European Central Bank uses instruments envisaged by its Statute. This was stated by the institute's president, Mario Draghi, speaking in Berlin at the 2013 Esmt Annual Forum entitled “The Future of Jobs”.
Draghi stressed that the program is "in line with the ECB's mandate to preserve price stability" and that "it represents a benefit for all". Since the plan was launched, banks have regained access to the market for financing and the fragmentation of capital has decreased.
According to Draghi, the plan is necessary to remove the obstacles to the transmission of monetary policy to the real economy. The ECB president also said that bank deposits in stressed countries have risen by 200 billion since August 2012.
