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ECB’s Coeure: Europe’s success in dealing with Greece is Europe’s success in …

“Europe’s success in dealing with Greece is Europe’s success in dealing with itself,” European Central Bank (ECB) Executive Board Member Benoît Cœuré said in Athens on Monday, while failure to support Greece will also be a failure to support itself.

He noted that Greece had made a lot of progress in reforms but also that a lot more remained to be done, while stressing that the Greek government’s perceived commitment to reforms was among the criteria that will be taken into account when the ECB governing council considers whether to include Greek bonds in the Public Sector Purchase Programme (PSPP), better known as quantitative easing.

“It is essential that Greek authorities continue to show commitment to the goals and measures taken under the programme….[leading to confidence] that reforms will not be reversed but in fact be strengthened after the programme.”
Other important input, he said, will be programme developments and especially the outcome of the debt sustainability assessment by the institutions, while important factors will be a successful programme review and a successful conclusion to debt measures talks.

Coeure was addressing the 27th annual Greek Economy Conference “Greece and the Global Disruptive Environment: A look into the future” organised by the American-Hellenic Chamber of Commerce in Athens on Monday. (via AthensNewsAgency)

PS Upon hearing these words, every Greek felt his heart breaking into pieces out of pure gratitude. The other half of “every Greek” felt his legs and hands breaking into pieces out of cold and money shortage to heat his home.

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