While Greece is expected to submit its detailed proposals for a new bailout deal today, two European Central Bank officials are being cautious about the prospect of an agreement.
Prior to the European Central Bank Governing Council decision on Wednesday to keep the European Liquidity Assistance to Greece at 88.6 billion euros, ECB President Mario Draghi expressed his doubts about whether Greece and its creditors could reach an agreement.
“I don’t know. This time it is really difficult,” he said on whether there can be a solution, according to the Italian Il Sole 24 and Corriere Della Serra.
Draghi was, allegedly, further asked whether the solution could be given by Russia.
“I don’t believe so. I don’t consider it a real threat” he said and added “And also they don’t have money.”
Russian Finance Minister Alexey Ulyukayev and Andrey Kostin, President and Chairman of the Management Board of VTB, Russia’s second largest bank, indicated on Tuesday that Russia will not be the one to help Greece out.
ECB Governing Council member Jens Weidmann expressed his opinion, during a press conference in Frankfurt on Thursday, that the ELA to Greece should remain at the existing level until there are further developments.
“The Eurosystem should not increase the liquidity provision, and capital controls need to stay in force until an appropriate support package has been agreed by all parties and the solvency of both the Greek government and the Greek banking system has been ensured,” he said.
The ECB Governing Council is scheduled to meet on Monday following the European Union Summit on Sunday.
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