FRANKFURT, Germany, May. 28, 2015.- A board member of the European Central Bank has ruled out an immediate disbursement of funding for Greece and said that as regards the country to accept bonds as collateral in exchange for loans from the ECB, the answer is still ” no. “
These critical comments Ewald Nowotny, who as governor of the Austrian central bank holds a seat on the governing council of the ECB, align with other senior European officials who have dismissed optimism Greek Government that an agreement is near.
“There’s always a lot of noise in this situation and I think the important point is to distinguish the sound of the facts,” Nowotny told CNBC television.
“For us it is quite clear that we have to fulfill certain conditions. The condition is (…) if we accept, for example, Greek assets, Greek bonds as collateral. The answer, for now No, “Nowotny said
In February, the ECB stopped accepting Greek bonds sharply in exchange for funding, shifting of funding to Greek banks to the local issuer and isolating Greece. unless it reaches a new reform agreement.
The measure, which means that the Greek central bank to deliver local banks tens of billions of euros of emergency liquidity, it was taken in response to Frankfurt what many saw as an abandonment of its aid program in exchange for reforms.
Nowotny said that since then there had been a change of mind.
“We must be very clear. Not have the opportunity to practice some, say, funding that is out of our policy, “he said.
” I know there have been some floating around ideas about what we could provide some form of interim financing as well . I do not see any legal possibility for that, “he said.
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