The Traderszone Network

Published in TZ Latest News 6 March, 2015 by The TZ Newswire Staff

Draghi ties ECB’s Greek funding to bailout compliance

NICOSIA/ATHENS (Reuters) – The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying with its bailout program and is on track to receive a favorable review, ECB President Mario Draghi said on Thursday. He also made clear the euro zone bank would not raise a limit on Athens’ issuance of short-term debt to help leftist Prime Minister Alexis Tsipras avert a funding crunch, since the EU treaty barred monetary financing of governments.

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