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Draghi dashes Greek hopes of QE

President of the European Central Bank (ECB), Mario Draghi has put on "ice" iAthens' hopes of joining QE (quantitative easing program).

As stated today, the ECB will decide whether to continue to accept Greek bonds as a waiver, after assessing the viability of the Greek debt and if it the assessment is positive.

In response to questions from MEP, Giorgos Kyrtsos and the independent MEP Notis Marias on whether the European Central Bank will continue to accept Greek bonds as collateral, the ECB president said: "To continue the Waiver after the end of the Greek program, ie after August 20, there should be a positive assessment by the ECB on the sustainability of the Greek debt. " Mario Draghi said the ECB would make its own assessment of the sustainability of Greek debt as well as the risk management assessment after the Eurogroup's final decision by the national parliaments of the Eurozone, and after the necessary decisions of the Council of the European Stability Mechanism (ESM).

Mr Draghi also noted that the enhanced surveillance regime under which Greece will be placed after the end of the current program on 20 August does not guarantee the continuation of the waiver unless the assessment of the viability of the Greek debt by the European Central Bank is positive.