European Central Bank mulling withdrawal from troika - Press

2015-02-03 10:29:51

The European Central Bank is considering a withdrawl from the body monitoring Greece's austerity programme, Germany's daily Handelsblatt reported Tuesday.

The reason behind the ECB's change of heart is that it is worried about potential conflicts of interest, the report said.

The IMF would also like to leave the so-called Troika because it does not consider monitoring a European state its core priority, the report added. This would leave the European Commission under President Jean-Claude Juncker as the only organisation of the current three that still wants to remain.

Greece's new Prime Minister Alexis Tsipras has announced that he will no longer cooperate with the Troika. A dissolution would hand him an important early victory.

The German government said yesterday that it does not see any reason to give up the "proven" monitoring mechanism, with German politicians accusing Juncker, who was reportedly the first to flout the idea of a Troika resolution, of caving in to Tsipras.