ECB says Greece needs to agree strong debt pact
[FRANKFURT] European Central Bank President Mario Draghi called on Wednesday for a "strong agreement" with Greece to ensure it stays in the eurozone and also has a sustainable economy.
"The governing council of the ECB wants Greece to stay in the euro. But there should be a strong agreement, and a strong agreement is one that produces growth, that has social fairness but that is also fiscally sustainable and addresses the remaining sources or factors of financial instability in the financial sector," he told a news conference.
Greece continues to wrangle with its eurozone backers to lighten the reforms it must make in return for further loans.
In the meantime, its banks, and therefore its wider economy, are dependent on emergency central bank funding, sanctioned by the ECB.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month