ECB Head Mario Draghi Puts QE on Hold

“Until sufficient details are given on debt-related measures, serious concerns remain about the sustainability of Greek government debt,” noted ECB head Mario Draghi.

In a letter responding to a question by Mr. Nikolaos Choudis on whether a debt sustainability analysis has been made by the ECB and what the conclusions were, Mr. Draghi said that “the ECB staff is not currently in a position to complete a fully-fledged DSA analysis of Greece’s public debt.”

Mr. Draghi expressed his belief that other factors will be taken into account in making such a decision and that Greece’s prospects for recovery of the Greek economy must be improved.