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26 Jan 2015
ECB Cannot Decide Debt Relief For Greece - ECB's Coeure
FXStreet (Mumbai) - European Central Bank (ECB) Executive Board member Benoit Coeure said in a newspaper interview for German business daily Handelsblatt published today that the ECB would not take part in any debt cut for Greece.
Key Quotes:
"It is not up to the ECB to decide whether Greece needs debt relief,"
"But it's absolutely clear that we cannot agree to a debt relief that includes Greek bonds that are located at the ECB," he added, explaining that it would not be possible under the legal terms.
"We (ECB) have done our part, others have to do their part," he said, expressing hope the stimulus would give governments the space and encouragement to proceed with those measures.
"In the case of Europe, being patient is just a risk that we don’t want to take," he added.
Key Quotes:
"It is not up to the ECB to decide whether Greece needs debt relief,"
"But it's absolutely clear that we cannot agree to a debt relief that includes Greek bonds that are located at the ECB," he added, explaining that it would not be possible under the legal terms.
"We (ECB) have done our part, others have to do their part," he said, expressing hope the stimulus would give governments the space and encouragement to proceed with those measures.
"In the case of Europe, being patient is just a risk that we don’t want to take," he added.