ECB won’t buy Greek bonds

The Star Early Edition - - BUSINESS REPORT -

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.

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