This would be an important step in resolving the euro crisis.
The ECB's bond-buying programme may save the euro but it is also a step towards the permanent division of Europe into debtors and creditors, he said.
The problem for financial markets is that the action itself is like so much else related to the euro story another small step, when the consensus is calling for a giant leap out of crisis mentality.
The trillion euro question is if the ECB will step in to help even if it cannot get the reforms and austerity it demands (because of the political situation).
DSK, as he is generally known in French political circles prides himself on his pragmatism, you cannot doubt his keenness on the euro: the last and most important step towards completing Europe's single market, he calls it.
The first big step was beating Germany in the Euro final last year.
This is still a long way from the partial debt mutualisation that the euro zone needs, but it marks a step forward from Germany's exclusive obsession with fiscal austerity.
As for the euro, joining the single currency looks a risky step, particularly for the larger ex-communist countries so a slippage in the timetable may be no bad thing.
Many are looking to the 187-member International Monetary Fund to step in as the rescue vehicle in the euro zone.
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It must be noted that it is not clear how events in the euro zone will develop and so markets are expecting a one step forward one step back dance for the foreseeable future.
Assuming bondholders stand firm, then euro-zone governments face a straight choice: Either they step in to take a share of the losses for the first time in the crisis or they allow Greece to default, something they have fought hard to avoid for the past two years.
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Latvia's currency, the lat, has been pegged to the euro since 2005 and Mr Dombrovskis argues that joining is the next natural step.
While that would be a painful step for Greece, it might be even worse for the rest of the euro zone.
At the end of last week, they took the unusual step of issuing a joint declaration insisting that they were in complete agreement over the euro.
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Demand for commodities took a further step forward as investors swiftly concluded that the dollar was most likely to trail the euro even in a risk-on environment.
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That plan had been shot down by euro-zone leaders at the G20 summit in Cannes, triggering Mr Papandreou's decision on November 6th to step down (see Charlemagne).
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