ECONOMY

Greece not ready yet for ECB to buy its bonds, says Draghi

greece-not-ready-yet-for-ecb-to-buy-its-bonds-says-draghi

European Central Bank President Mario Draghi said on Thursday that more time was needed to see whether Greece would qualify for bond purchases under the bank's asset buying program.

"The bond purchases cannot take place while a review is ongoing," he told a news conference.

Greece has just agreed a new bailout from international lenders but its implementation is still under review.

Draghi also said that during the recent bailout negotiations the ECB had argued against imposing charges on account holders in Greek banks because it would have been counter productive.

[Reuters]