The European Central Bank (ECB) President, Mario Draghi, said in Rome on Thursday that there was already evidence that quantitative easing was working.

He pointed out that stimulus measures by the ECB are strengthening the "cyclical recovery", not structural.

Draghi noted that the central bank cannot buy Greek government bonds because "it does not purchase government bonds of countries that are in a programme with the IMF and the European Commission when the review of this programme has not been completed".

The ECB president said that the ECB also does not purchase due to low Greece's credit rating and due to high percentage of purchased bonds.

Draghi expects that the central bank's asset buying program will reach €60 billion by the end of March.