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ECB says up to Greece to decide on returning to bond market
July 20, 2017 / 1:13 PM / 2 months ago

ECB says up to Greece to decide on returning to bond market

FRANKFURT, July 20 (Reuters) - European Central Bank President Mario Draghi said on Thursday it was up to Greece to decide whether to tap the bond market again, but that it needed to be done as part of an overall bailout strategy.

He said, however, there had been serious progress in Greece, which is on its third international bailout.

Greece has hired six banks to arrange its first bond sale since being frozen out of financial markets and almost falling out of euro in 2015, Thomson Reuters market news and data service IFR reported on Wednesday.

The ECB is one of three institutions responsible for Greece’s bailout programme, along with the European Commission and International Monetary Fund.

Greece’s return to markets is seen by Europe as a step towards exiting its euro zone-funded bailout programme. But Greece also needs a green light from the IMF, which worries about Athens having too much debt. (Reporting By Francesco Canepa Editing by Jeremy Gaunt/Mark Heinrich)

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