October 21, 2016 / 1:26 PM / 3 years ago

Greek PM warns lack of debt relief will push country in spiral of borrowing from Europe

Greek Prime Minister Alexis Tsipras arrives at a European Union leaders summit in Brussels, Belgium October 21, 2016. REUTERS/Yves Herman

BRUSSELS (Reuters) - Greek Prime Minister Alexis Tsipras on Friday warned that failure to agree on a debt restructuring for the country would push it into a perpetual spiral of borrowing from Europe.

Tsipras told reporters after a summit of European Union leaders in Brussels that Greece should be included in the European Central Bank’s quantitative easing programme “as soon as possible”.

Greece wants debt relief and the country’s inclusion in the ECB’s bond buying programme to regain market access.

Tsipras said he was optimistic there would be significant decisions on debt restructuring during a meeting of euro zone finance ministers in December.

“If these decisions are not taken on time ... then the bailout programme will be at risk,” Tsipras said. “If Greece has no market access, then Europe will need to continue to lend it money,” Tsipras said.

Athens Newsroom

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