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The ECB grants debt relief to all Eurozone nations except Greece

De Grauwe, Paul, (2016), “The ECB grants debt relief to all Eurozone nations except Greece”, Voxeu, 13 Μay

Greece may be about to get some debt relief, although there is still resistance to the idea. This column argues that the ECB has been providing other Eurozone countries with debt relief since early 2015 through its programme of quantitative easing. The reason given for excluding Greece from the QE programme – the ‘quality’ of its government bonds – can easily be overcome if the political will exists to do so. It is time to start treating a country struggling under the burden of immense debt in the same way as the other Eurozone countries are treated.

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