The ECB has put the onus firmly on eurozone governments to solve the bloc’s debt crisis, dashing expectations it could take near-term action despite saying the currency area’s economy was under increasing threat.

The burden other eurozone states could bear gives them a powerful incentive to keep Greece in the currency club, writes Paul Carrel

There is a palpable sense of hope at the annual Davos World Economic Forum that the eurozone is edging away from the brink of catastrophe.