Mario Draghi | Thomas Lohnes/Getty Images Mario Draghi: I won’t mediate Italian budget standoff The Italian chief of the ECB also says that ‘to finance governments’ deficits is not part of our mandate.’

The European Central Bank's president, Mario Draghi, on Thursday passed the buck on resolving the Italian budget standoff to the European Commission.

Speaking at a press conference on Thursday in Frankfurt after the ECB governing council monetary policy meeting, Draghi sought to clarify that he has no intention of serving as a "mediator" between Rome and Brussels.

"This is a fiscal discussion, and it's not the central bank’s job to play the mediator’s role," he said.

The Italian chief of the ECB also repeated, in two separate answers, that "to finance governments' deficits is not part of our mandate." He explained that Italy would get no special treatment and said he "didn't know what to respond" when asked whether he is "sympathetic" to his country's situation.

"The European Commission is the ultimate guardian of the Stability and Growth Pact," he said.

Draghi refused to elaborate whether he believes enforcing EU budget rules against Italy would be counterproductive both politically and for the country's finances, but noted that "these are very serious questions."

"We don't determine the political landscape, we are part of it," he said.

Should the situation in Italy deteriorate, the only option on the table for the country, according to Draghi, would be to resort to the ECB's so-called Outright Monetary Transactions, a program that allows the central bank to purchase government bonds on the secondary market under very special circumstances, if it doesn't negatively impact the rest of the eurozone.

Draghi, however, said he is "confident, not very confident, but confident," that there would be "good common sense that will lead the parties to converge to some sort of agreement."

Meanwhile, ECB policymakers decided not to change the existing monetary policy, although they highlighted rising risks from protectionism and market volatility.