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Thursday, June 11, 2026

ECB:No Alternative to Bailout Programme, if Greece Wants to Remain in EZ

Alexis Tsipras governance priority to rip out the “barbaric” austerity programme prompted a reaction by the European Central Bank on Tuesday. Joerg Asmussen, ECB Executive Board member, raised for the first time the possibility of a Greek exit from the euro zone.

“Greece needs to be aware that there is no alternative to the agreed reform programme if it wants to remain a member of the eurozone,” Asmussen told Handelsblatt, the German business newspaper, stressing that ECB will not renegotiate Greece’s bailout programme.

The ECB is part of the so-called troika along with the International Monetary Fund and the EU Commission, which monitors the implementation of the bailout program.

Alexis Tsipras is leader of left-wing SYRIZA, the party that emerged second form the general elections on Sunday. On Tuesday he received the mandate from the president to form a coalition government.

PS My personal opinion is that Greece rather heads for fresh elections than for coalition government. And then the political cards will be re-mixed. Depending on the leaders’ behaviour during coalition government exploratory talks.

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