ECONOMY

Draghi: Too early to talk of additional aid for Greece

The president of the European Central Bank (ECB), Mario Draghi, stated on Monday that Greece’s debt load was currently sustainable, but added it was too early to say whether it would need more aid.

This would depend on factors such as it having access to capital markets, he stated while addressing the European Parliament.

He also said that the ECB is ready to offer eurozone banks more long-term loans to keep money market interest rates from rising to levels which could push inflation too low.

The Italian banker added that credit volumes are not yet showing the effect of the improvement in banks’ funding conditions, noting that the 17-country bloc’s central bank remains committed to keeping interest rates low for as long as necessary.

[Reuters]