Exclusion from QE confirmed, only ECB's reinvestment programme left

EconomyProgramme Tags: ECB
Photo by ECB via Flickr https://flic.kr/p/qhZVDy
Photo by ECB via Flickr https://flic.kr/p/qhZVDy

During the final press conference before the summer holidays and about three weeks before Greece concludes its third adjustment programme, the European Central Bank’s (ECB) president Mario Draghi confirmed what was widely anticipated, which is that the country will not be eligible for ECB’s QE programme.

When asked whether Greece is now closer to being reintegrated into ECB’s programmes, Draghi said that Greek government bonds are not eligible for QE and need a waiver, which was available while the programme was in place. After the programme expires, th...

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