Draghi urges Greece to “implement the bailout program”

From the stand in the European Parliament, rhe chief of the ECB Mario Draghi urged Greece to implement the provisions of its bailout program and remarked that it…

From the stand in the European Parliament, rhe chief of the ECB Mario Draghi urged Greece to implement the provisions of its bailout program and remarked that it was too early to consider any debt relief.

Mr. Draghi was optimistic about the progress of the economy in the Eurozone, stating the “glass” was at least “half-full”. The ECB chief explained however that while the Eurozone has become more resilient, the crisis in Ukraine could have a ripple effect. Additionally Mr. Draghi claimed that “the worst is over” and that the foundations were being laid so that growth would be encouraged and stronger.

The head of the European Central Bank also detailed that the ECB’s Outright Monetary Transactions (OMT) program, under which the bank purchases bonds issued by Eurozone members, is fully-prepared if it is deemed necessary.

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