ECB president Mario Draghi spoke before Bundestag on Wednesday in order to reassure German lawmakers, worried that his recent interventionist steps will compromise the central bank's independence and will have a negative impact on the euro. Draghi defended ECB's bond buying program by saying that it was not resulting in higher inflation and that a decrease in prices in some EU Member States was posing a greater risk to euro price stability. He also assured that the program would not “lead to disguised financing of governments.” Moreover, the ECB head acknowledged the first positive results of the reforms implemented by the EU Member States and urged national governments to “stay on course” as “in doing so, they will be able to unlock fully the enormous potential of the euro to improve living standards and carry forward the project of European integration.” Nevertheless, he emphasized that they cannot restore market confidence in the Eurozone by themselves and that is why the ECB had to step in.