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Draghi: ECB will need analysis of Greece’s debt sustainability (lol)

Greece has to pass a review of its bailout programme and show a commitment to reforms before the European Central Bank can start buying its bonds as part of the bank’s asset purchase programme, ECB President Mario Draghi said on Thursday.

Greece has so far been excluded from the quantitative easing (QE) programme due to its low credit rating but it could be admitted through a waiver for bailed-out countries.

Draghi said on Thursday Greece would first need to pass an official review of its reform progress, due to start next month, as well as an analysis of the sustainability of its debt by the ECB’s governing council.

“For reinstating the waiver the country has to be in a program for financial assistance, has to comply with it and so has to show strong ownership and consistent and significant implementation,” Draghi told a news conference after the ECB left interest rates unchanged.

“There will be some milestones that will be …assessed in the weeks ahead and based on that assessment the Governing Council will take a decision.”

full article Reuters

PS Greece’s Debt sustainability = I think that’s Thursday’s LOL

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3 comments

  1. Here we go again!!!

  2. In other words, Greece must first let itself be 100% looted by vulture capitalists and Dutch/German corporations…..and then, and only then….will ECB “perhaps” consider buying greek bonds.

    Nothing to cry over really since Draghi QE has been a massive failure.