ECB Has No Set Timeline to Include Greece in QE Program

mario_draghiThe European Central Bank has not yet specified a timeline to include Greece in its 80-billion-euro a month asset purchase program, says a Reuters report.

In a letter sent to European lawmakers, ECB President Mario Draghi said that Greece does not qualify yet for the quantitative easing (QE) program. Athens needs to pass an ECB debt sustainability analysis first, Reuters says.

However, the Greek debt relief issue is still under consideration, making such an analysis difficult.

“A precise timeline for the possible purchase of marketable instruments issued or guaranteed by the Hellenic Republic under the PSPP (Public Sector Purchase Programme) cannot be specified at the current juncture,” Draghi said.