ECB not yet reassured on sustainability of Greek debt, says Coeure


Eurozone governments have not yet provided enough clarity on the type of debt relief they may offer Greece to reassure the European Central Bank that the crisis-hit country's debt is sustainable, ECB board member Benoit Coeure said on Wednesday.

Eurozone finance ministers merely sketched possible ways to make Greece's debt burden more sustainable last month which the ECB has said is not sufficient for Greece to be included in its bond-buying quantitative easing program.

"There have been some considerations by ministers on what they would possibly be willing to do next year in terms of debt measures. But they are not very specific," Coeure told a news conference.

"In our view, and that's probably an assessment we share with the IMF, that's not enough for us to relieve concerns over the sustainability of the Greek debt, which the governing council has said is condition to start QE. We want to be reassured… and we haven't been so far." [Reuters]