Draghi Signals Greek Debt Measures Not Enough for QE Inclusion
- ECB President sees ‘serious concerns’ over debt sustainability
- Lack of clarity de facto closes door to Greek bond purchases
Greek Economy Minister Optimistic After Macron Election
European Central Bank President Mario Draghi effectively put an end to a debate about the inclusion of Greek bonds in the ECB’s asset-purchase program, saying commitments offered by creditors earlier this month still don’t provide sufficient clarity on the country’s future debt path.
The debt measures Greece adopted are “still insufficient to properly assess both their quantitative effect and the timing of their impact on the dynamics of Greece’s public debt,” Draghi wrote in a letter to Greek European Parliament member Nikolaos Chountis published on Monday. “Until sufficient detail has been provided on the debt measures, serious concerns persist regarding the sustainability of Greece’s public debt.”