Greek hopes to slip bailout shackles meet Draghi hurdle

Antonis Samaras's ambition to drive Greece out of its rescue program is running into a roadblock. The country's prime minister might be thwarted by conditions for the European Central Bank's asset-purchase program, as detailed by President Mario Draghi. Draghi pledged to buy asset-backed securities and covered bonds for at least two years, and said that Greece and Cyprus must be subject to bailout programs to ensure their inclusion because their credit ratings are below investment grade. Draghi's comments were "rather badly received by investors, following the government's expressed intention to exit the current bailout program early," Thanassis Drogossis, head of equities at Pantelakis Securities SA in Athens, wrote in a note to clients.



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