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Acting at the behest of the member states, the ECB has sufficient powers of persuasion: it could close its discount window to the banks, and the governments could seize institutions that refuse to cooperate.
The European Central Bank treated all member countries' sovereign debt as essentially riskless, and accepted their government bonds at its discount window on equal terms.
Commercial banks could hold them without setting aside any capital reserves, and the European Central Bank (ECB) accepted them on equal terms at its discount window.
Instead, it brought about divergence. The European Central Bank treated all member countries' sovereign debt as essentially riskless, and accepted their government bonds at its discount window on equal terms.
This fact was obscured until recently by the European Central Bank's willingness to accept the sovereign debt of all eurozone members on equal terms at its discount window.