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ECB’s massive bond-buying program is no longer crucial for Greece, prime minister says

“The Greek government no longer believes that stimulus from the European Central Bank (ECB) is crucial for the economic recovery in Greece” writes Wassilios Aswestopoulos for cnbc.com. Greece is ineligible to be considered under the ECB’s stimulus program due to the fact that its debt doesn’t have an investment grade rate from credit rating agencies.However, these agencies might change their grades if Greece successfully concludes the end of the third bailout in the summer and gets its debt restructured. Previously, the prime minister had said that bond purchasing from the ECB would give confidence to investors to shore up their investments in the southern European country, and thus support the economic recovery.
 
Source: cnbc.com



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