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Draghi Says Next Move Not His as Spain Resists Bailout

European Central Bank President Mario Draghi signaled European governments can’t expect much more help from him until they make the next move.

Draghi said nine times during a 54-minute press conference in Slovenia yesterday that the ECB won’t start intervening in bond markets until governments like Spain request a bailout and agree to conditions. He also ruled out allowing the ECB to take losses in any further Greek debt restructuring and damped speculation of another ECB interest-rate cut.