ECB cannot buy Greek bonds - Draghi

FXStreet (Mumbai) - The European Central Bank (ECB) President, at the press conference, said that the Greek bonds do not qualify for the bond purchase program, as it intends to buy only investment grade debt under its QE program. On similar lines, Cyprus bonds too cannot be bought under the QE program.

The President further stated that the ECB has overcome the issuer limit on Greek debt and would begin buying the same from July/August if the waiver for Greek debt has been reinstated. So far the ECB has lent more than EUR 100 billion; which is 68% of Greece’s GDP.