ECB considering leaving troika, Germany’s Handelsblatt says

The European Central Bank is considering withdrawing from the “troika” of international lenders that governs Greece’s international bailout, German business daily Handelsblatt reported on Tuesday.

The debate about whether to withdraw reflects concerns within the ECB that its large-scale sovereign bond-buying plan, announced last month, could lead to conflicts of interest, Handelsblatt reported.

“The ECB will use the chance to exit,” the paper quoted a German government source as saying.

The new left-wing government of Greek Prime Minister Alexis Tsipras has said it wants to end the bailout deal and will not cooperate with troika inspectors in Athens.

Without citing a source, Handelsblatt also reported that the International Monetary Fund would like to leave the troika sooner rather than later, leaving the European Commission as the sole remaining participant.

Handelsblatt reported that Commission President Jean-Claude Juncker believed the troika did not have a bright future, and that he was thinking about a concept with more democratic controls.

[Reuters]