ECB's Draghi: ECB not in position to complete fully-fledged DSA analysis of Greece’s public debt

Eren Sengezer FXStreet

Key quotes from ECB Presiden Mario Draghi's letter to Mr. Nikolaos Chountis, MEP, on the Greek adjustment programme:

"With regard to your question on whether the European Central Bank (ECB) has concluded its own debt sustainability analysis (DSA) and, if so, what the main conclusions were, please be informed that the ECB staff is not currently in a position to complete a fully-fledged DSA analysis of Greece’s public debt."

"Indeed, while we take note of the Eurogroup discussion, which we see as a first step towards securing debt sustainability, the level of detail on the debt measures referred to in the Eurogroup statement of 15 June 2017 is still insufficient to properly assess both their quantitative effect and the timing of their impact on the dynamics of Greece’s public debt under a number of scenarios."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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