TheGuardian – Graeme Wearden – European Central Bank Chief Rules Out Debt Relief Lifeline For Greece – 6 September 2013

The Guardian

Greece faces a funding gap of up to €11bn in second half of 2014, but Mario Draghi says ECB will not take part in any debt restructuring

The head of the European Central Bank has ruled out handing Greece a debt relief lifeline, hours after the head of the eurozone finance ministers admitted that Athens will need additional aid next year.

ECB president Mario Draghi was adamant that the ECB would not participate in any debt restructuring, despite growing speculation that Greece will be unable to fully return to the financial markets when its current bailout ends in 2014.

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