Draghi: Greece to be in QE if progress continues

24 September 2019
377 Views

European Central Bank President Mario Draghi left open the possibility of Greece being included in the next QE program during his final speech to members of the European Parliament’s Committee on Economic Affairs on Monday.
“Greece has made significant progress in reforms in recent years and has recorded great growth. This is recognised, as the low interest rates show. If credibility is boosted and credit conditions are upgraded, Greece will be able to participate in the program of quantitative easing,” he said.
Responding to a question submitted by New Democracy (ND) MEP Giorgos Kyrtsos, the central banker said maintaining the right market conditions is crucial. At the same time, he noted that “there is a need to further enhance the credibility and confidence of the capital markets. So this is essential for shaping fiscal policy. The results have exceeded the goals more than once. So overall economic developments recognise that there is progress in the country.”

Mario Draghi made special mention of the red loans, describing their decline as vital. As he said, “a high amount of non-performing loans leads to a vulnerability of the banking system, which does not finance the private sector. However, we need to cut red loans without forgetting the social aspect. “

You may be interested

Mitsotakis-Erdogan phone call after the 6.7 Richter earthquake
POLITICS
shares41 views
POLITICS
shares41 views

Mitsotakis-Erdogan phone call after the 6.7 Richter earthquake

makis - Oct 30, 2020

Greek Prime Minister Kyriakos Mitsotakis had a telephone conversation with Turkish President Recep Tayyip Erdogan in the aftermath of the…

Nice Muslim terrorist arrived in France from Lampedusa – Watch the moment of his arrest (video)
SLIDE
shares45 views
SLIDE
shares45 views

Nice Muslim terrorist arrived in France from Lampedusa – Watch the moment of his arrest (video)

makis - Oct 29, 2020

A Tunisian man who arrived in Europe with a group of migrants rescued off the coast of Lampedusa in Italy…

Two Greek hotels win TUI top awards
GREECE
shares43 views
GREECE
shares43 views

Two Greek hotels win TUI top awards

Panos - Oct 29, 2020

Two Greek hotels are among the 16 winners of the TUI Global Hotel Awards, a great distinction that boosts the international visibility of the…

Leave a Comment

Your email address will not be published.