Weidmann says ECB will not bridge Greek financing gap

The European Central Bank will not fill potential financing gaps in Greece’s budget, Governing Council member Jens Weidmann said on Wednesday.

Asked about whether Greece might need another bailout, Weidmann told reporters after a meeting with Italian Finance Minister Vittorio Grilli that he did not want to comment on rumors and would rather wait for a formal assessment of Greece’s financial state.

“This is a question we should ask finance ministers. They are responsible for setting up the programs and also for deciding on potential financial gaps. Those are not to be filled by central banks. This is a clear position I have,» Weidmann, who also heads the German Bundesbank, said.

Greek Deputy Finance Minister Christos Staikouras said in a document released on Tuesday that Athens could ask the ECB to roll over its Greek bonds to help Athens plug any financing gaps from a budget shortfall or lower than expected privatization revenue.


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