ECB's Draghi: The Ball Is In Greece's Court

European Central Bank President Mario Draghi told a European Parliament committee Monday that the institution is doing all it can to help reach a resolution of Greece's debt talks, but said the "ball lies squarely in the camp of the Greek government to take the next step." Talks between Greek and eurozone officials collapsed Sunday, stoking fears of a potential default by Athens that could lead the way to Greece's exit from the eurozone. Draghi said the ECB would continue to extend liquidity to the country's banking sector "as long as Greek banks are solvent and have sufficient collateral." Draghi also emphasized that a final decision on whether to conclude an agreement with Greece "lies entirely" with eurozone finance ministers and their bosses in the eurozone national governments. "Hence this is a political decision that will have to be taken by elected policy makers, not by central bankers," he said.