ECB to buy Greek bonds from July
- Written by E.Tsiliopoulos
ANA - MPA -- The Central Bank (ECB) could begin buying Greek state bonds from July, after Greece repays maturing currently held by ECB, Mario Draghi told reporters on Thursday.
The European , responding to questions, added that the same general applying for all Eurozone member- will also apply for Greece, which means that ECB could buy up to 33 pct of state bonds traded in the secondary market, or not more than 25 pct of any bond issue. underlined that in the case of Greece, the country’s in the QE program meant that an exception set by ECB on accepting bonds as collateral – for as long as the country was in an adjustment programme - was valid.
Bankers said that the July timetable was set by the ECB because the central bank currently holds a heavy portfolio in Greek state bonds and, if it decided to buy more Greek bonds in March, it would have surpassed the 33 pct limit.
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