European Central Bank (ECB) President Mario Draghi sent his message to Athens on Monday, hours before a closed-door IMF executive directors’ meeting on the Greek bailout.
The Eurozone central bank chief called for the Greek side to quickly conclude the now delayed second review of program in order to allow for discussions towards again including Greek bonds in the ECB’s QE stimulus program.
Speaking before MEPs at the European Parliament’s Committee on Economic and Monetary Affairs (ECON), Draghi said the re-admittance of Greece into the qualitative easing program depends on the concept of sustainability for the Greek debt.
He said re-inclusion in the stimulus framework could only be considered once Greece’s institutional creditors agreed over medium-term debt relief for Greece after 2018, and of course, after the second review gets the nod from the Eurogroup.
At that point, he emphasized that “the governing council, in full independence, will express its own assessment of debt sustainability based only on its own risk management considerations”.
