ECB won’t buy Greek bonds

THE EUROPEAN Central Bank (ECB) is unlikely to include Greek bonds in its asset-purchase programme for the foreseeable future, a person familiar with the matter said, as European creditors are not prepared to offer substantially easier repayment terms on bailout loans to improve the nation’s debt outlook. Euro-area finance ministers are to meet in Luxembourg tomorrow to discuss debtrelief measures that the ECB has said are needed before it will consider purchasing Greek bonds. The so-called Eurogroup is expected to complete a review of Athens’s rescue programme that would allow for the disbursement of at least 7.4 billion (R106.62bn) in aid needed for a similar amount of bond repayments in July.