Draghi confident of ECB buying Greek bonds if progress made

Greece can be included in the European Central Bank’s asset purchase program, known as quantitative easing, if it continues to make progress in implementing reforms, ECB President Mario Draghi said on Monday.

“I’m pretty confident that if things continue to move in this way and the progress continues to be significant on the path of reform, there will conditions that Greece can participate in QE but progress has to be made, (it) has to continue,” Draghi told the European parliament’s committee on economic affairs.

For Greece to participate in bond purchases, it must have least one investment grade credit rating from a major rating agency and its debt must be deemed by the ECB as sustainable.

[Reuters]