Greek econ minister: Access to ECB’s QE program now more ‘symbolic’

22 June 2017
959 Views

Greece’s economy minister on Wednesday essentially downplayed the prospects of the domestic banking system rejoining the ECB’s asset purchasing program – better known as Quantitative Easing (QE) – one of a handful of priorities repeatedly cited by the coalition government in Athens before last week’s Eurogroup agreement.
Asked to gauge how important the European Central Bank’s stimulus program was for would-be investors, Dimitri Papadimitriou said such a development is now more symbolic, instead of actually leading to more credit for the to the bailout-dependent country.

“The access to QE … is more for a symbolic nature than actual credit extension. We’re limited to how much credit we can get through the QE program. It would be nice to have it but it’s a decision by an independent institution (ECB), it’s not part of the (bailout) program, but I believe that based on the expression of interest that I have seen, that Greece will be able to access the market even without the QE,” the long-time US-based academic told Bloomberg television.

He also expressed optimism, as he said, after the election of Emmanuel Macron as president of France.

You may be interested

Poll: New Democracy leads with a 14.8% difference to SYRIZA
POLITICS
shares22 views
POLITICS
shares22 views

Poll: New Democracy leads with a 14.8% difference to SYRIZA

makis - Jun 24, 2021

The governing party of New Democracy is clearly leading the polls with 37%, a difference of 14.8% from SYRIZA which…

Greece and Italy top European picks for American tourists
GREECE
shares24 views
GREECE
shares24 views

Greece and Italy top European picks for American tourists

Panos - Jun 24, 2021

Italy and Greece are the top two choices in Europe for American travellers this season, according to a report by…

Turkish coastguard harassed Cypriot fishing boat (photos)
GREECE
shares27 views
GREECE
shares27 views

Turkish coastguard harassed Cypriot fishing boat (photos)

Panos - Jun 24, 2021

New provocation from Turkey. Turkish coastguards harassed the fishing boat “Maria – Bouboulina”, while sailing in international territorial waters. The…

Leave a Comment

Your email address will not be published.