All eyes on Berlin as ECB readies bond-buying scheme
"The Greek situation makes it much more difficult to announce a QE program where the risks are shared out," said Christian Odendahl, chief economist at the Centre for European Reform in London.
...The ECB may feel the need to tread carefully pending a final ruling, increasing the chances of a QE program in which the credit risks tied to purchased bonds remain with national central banks - an idea floated by Bundesbank President Jens Weidmann last month.
"If you limit this along national lines, it would clearly be a disappointment because it would show quite starkly that the ECB is running up against its limits," Odendahl said. "Draghi knows that the announcement itself will be the most important thing. I hope he is bold."