ECB Said Unlikely to Include Greece in QE in Coming Months
- Lack of clarity on debt relief won’t allow ECB bond buying
- Finance ministers to discuss Greek debt burden this week
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The European Central Bank is unlikely to include Greek bonds in its asset-purchase program for the foreseeable future, a person familiar with the matter said, as European creditors aren’t prepared to offer substantially easier repayment terms on bailout loans to improve the nation’s debt outlook.
Euro-area finance ministers will meet in Luxembourg on June 15 to discuss additional debt-relief measures that the ECB has said are needed before it will consider purchasing Greek bonds. The so-called Eurogroup is also expected to complete a review of Athens’s rescue program that would allow for the disbursement of at least 7.4 billion euros ($8.3 billion) in aid needed for a similar amount of bond repayments in July.