Draghi confident of Greek bonds included in ECB's quantitative easing

The European Central Bank's President Mario Draghi on Monday said is confident that Greece can be included in the financial institution's asset purchase program, or quantitative easing, pending the country's continued progress in the implementation of economic reforms, according to a Reuters Frankfurt dispatch.

“I’m pretty confident that if things continue to move in this way and the progress continues to be significant on the path of reform, there will conditions that Greece can participate in QE but progress has to be made, (it) has to continue,” Draghi told the European parliament’s committee on economic affairs.

Greece must first secure a minimum of one investment grade credit rating from a major rating agency, and its state debt must also be deemed sustainable, before qualifying for participation in bond purchases.