ECB wants legal documents on Greek debt to add country in QE, says bank source

The European Central Bank (ECB) wants the Eurogroup in May to provide legal documents on Greece’s debt to include the country in its quantitative easing (QE) program and not political statements, a senior Greek banking source told journalists.

The source said that if these commitments are given to the ECB, then Greece could participate in the program in July.

Commenting on the ongoing talks with the institutions, the bank source said no issues are expected to arise that could block the deal, adding that a good and effective secondary market is needed for the non-performing loans. He also estimated that bank deposits increased after the Eurogroup meeting in Malta adding that deposits this year will rise 1.9 pct to 2 pct.

Bank of Greece Governor Yiannis Stournaras has joined talks with the mission chiefs in Athens.