ECB’s Coure Says Time is Running Short for Greece3

The European Central Bank is looking forward to working with Greece to complete a review of its bailout, but time is running short, ECB executive board member Benoit Coeure told a Cypriot newspaper on Sunday.

Greece and its euro zone partners struck a deal last month to extend its bailout program by four months. The cash-strapped country has until April to detail reforms that it will implement and to successfully conclude a bailout review before it receives any further aid.

“The (Greek) authorities have committed to fully cooperate with the three institutions (the European Central Bank, European Commission and International Monetary Fund), in order to allow for a speedy and successful conclusion of the review,” Coeure told the Politis daily newspaper in an interview.

“We are looking forward to working with the Greek authorities. Time is running short,” he said.

Coeure said once the review was successfully concluded, a follow-up arrangement would be discussed with the euro zone finance ministers, if the Greek authorities wished.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza