After the ECB left interest rates unchanged at 1 percent on Thursday, Volker Wieland, Chair for Monetary Theory and Policy at the House of Finance of Goethe University Frankfurt told CNBC that the bond purchase program had managed to remove some of the spikes in interest rates and keep volumes in sovereign debt markets. "But ultimately, the ECB doesn't want to remain the stopgap in the crisis. They want the governments to resolve that crisis," he said.