Mario Draghi confirmed on Thursday that the European Central Bank (ECB) will continue to buy €60bn worth of government bonds.

Going against pressure from the German banking system to unwind quantitative easing, Draghi went as far as suggesting that the ECB is ready to increase the pace of its asset-buying programme.

Systemically, that could prove problematic.

Buying more government bonds would automatically limit the time span of the €2,3 trillion programme. The ECB has pledged not to buy mor...