Keeping Greece in zone is ECB's 'prime objective'

European Central Bank Governing Council member Ewald Nowotny said a revival of bond purchases by the central bank isn’t being discussed.

“This for the time being is not a matter of discussion,” Nowotny told reporters in Belgrade on Tuesday, when asked if bond purchases were something the ECB was contemplating. “The ECB has done a number of measures that were very helpful and efficient for the economy. We are now in a situation where we have to see how these measures have worked in the economy, especially in long-term operations.”

Nowotny also said that the “prime objective” was to keep Greece in the euro area, adding that this was “something that doesn’t only depend on the side of the European authorities, but also on the decisions of Greek people and their government.”

Asked whether the ECB was preparing an exit plan, he said that “it’s a good rule for a central bank to be prepared for everything, but that doesn’t mean it has to talk about it.” [Bloomberg]-

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