ECB applied its rules to end Greek waiver – ECB’s Praet

FXStreet (Mumbai) - The European Central Bank’s (ECB) chief economist Peter Praet said today that the European Central Bank’s (ECB) simply applied rules as it decided to end its exemption from credit requirements for Greek bonds.

The conditions of access to liquidity from the European Central Bank are clear," Peter Praet said when asked about Wednesday's decision. If the conditions are not met anymore, the ECB must draw the consequences."

Praet also said that there are green shoots or signs of improvement in financial conditions in the Eurozone, which he said, indicates that the QE program would work. He further added that the ECB could do more than QE if necessary, but that he was confident that the existing QE would be effective.