FXStreet (Córdoba) – Regarding Greece, European Central Bank President Mario Draghi said the ECB is doing all it can to help Greece.
Draghi stated currently central bank liquidity extended to Greek banks amounts to around €118 billion, that is 66% of Greek GDP, the highest level of any eurozone country and more than double the amount at end 2014. He added the Emergency Liquidity Assistance (ELA) will continue to be increased as long as Greek banks remain solvent with enough collateral.
Draghi also said the revision on Greek reforms is up to Eurozone Governments, not the central bank. He said that Greece needs a credible perspective for successful program review in order to lift the amount of Greek debts that national banks can buy.
Draghi concludes that Greece must now take new steps to break the deadlock.
(Market News Provided by FXstreet)