Draghi rules out QE and waiver extension for Greece

European Central Bank President Mario Draghi on Thursday put a definitive end to any hopes of Greece's inclusion in the bond-buying program (QE) and the extension of the waiver that allows Greek debt to be accepted as collateral for regular auctions of ECB cash, despite the junk rating of Greek bonds.

In a press conference after Thursday's ECB Governing Council meeting, the Italian banker said that "Greek state bonds are not eligible for QE as that would require the waiver. The waiver for Greek bonds expires upon the end of the program."

Draghi's comments earlier this month at the European Parliament's Economic and Monetary Affairs Committee had led some international firms, such as HSBC, to believe there may be a window of opportunity for Greece to enter the ECB's quantitative easing program. However, the Eurogroup meeting heard ECB Governing Council member Benoit...