Impossible to extend Greek debt maturities – ECB’s Coeure

FXStreet (Mumbai) - In an interview with an Italian paper, European Central Bank (ECB) Executive Board member Benoit Coeure said that it is not possible for ECB to extend time for Greece debt repayment while adding that Greece must adhere to the loan repayment timeline.

Key Quotes:

"Greece must continue to abide by the rules of the game,"

"Greece’s debt is made up of various components. As regards the government bonds purchased by the ECB as part of the Securities Markets Program launched in 2010, we cannot grant even an extension of maturities: it would be like granting a loan to the country and that is prohibited by the treaties."