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16.07.2015 13:55

European Central Bank President Mario Draghi: liquidity provision to Greece was never meant to be unlimited and unconditional

The European Central Bank (ECB) President Mario Draghi said at a press conference on Thursday:

  • The central bank will continue its bond-buying programme until September 2016 or until 2% inflation target will be reached;
  • Quantitative easing continues "to proceed smoothly";
  • Lower oil prices should support disposable incomes in Europe;
  • The slowdown in emerging markets weighs on recovery in the Eurozone;
  • Demand for loans from companies rose;
  • Governments should implement structural reforms;
  • The central bank continues to act on the assumption Greece is and will continue to remain in the Eurozone;
  • Liquidity provision to Greece was never meant to be unlimited and unconditional;
  • The Eurosystem of central banks' total exposure to Greece is €130 billion;
  • Greece will repay ECB loans by July 20.

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