Emergency help to calm markets will be provided for “as long as necessary” by the European Central Bank, a member of its executive board has pledged, even though the bank believes only markets can end much of the nervousness.

“There is no deadline,” José Manuel González-Páramo, responsible for ECB market operations on a six-man board, said in a Financial Times interview. “To the extent that money markets remain subject to tension, we will stay there as long as necessary.”