A tranquil messenger of continuity

From all corners of the Internet, the deflationistas have been calling on the new president of the European Central Bank to save the day buying European sovereign debt on a large scale. For example, here is Paul Krugman last week on this. In his first press conference today, however, Mr. Mario Draghi was a tranquil messenger of continuity and respect for treaties and regulations. He seemed like a man who will need to see people running to the nuclear shelters before he is ready to tear article 21.1 of the Statute of the Eurosystem and the ECB, which reads:

21.1. In accordance with Article 123 of the Treaty on the Functioning of the European Union, overdrafts or any other type of credit facility with the ECB or with the national central banks in favour of Union institutions, bodies, offices or agencies, central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of Member States shall be prohibited, as shall the purchase directly from them by the ECB or national central banks of debt instruments.