But the financial-market turmoil fueled a panic among eurozone leaders, leading them to misdiagnose the malady and prescribe the wrong medicine, which has served only to generate new symptoms. While Draghi’s promise, embodied by the ECB’s “outright monetary transactions” program – as well as its long-term refinancing operation and emergency liquidity assistance program – has bought time and lowered yields, the eurozone’s banking crisis persists.