May 8, 2012 / 3:44 PM / in 7 years

Greek bailout not up for negotiation: ECB's Asmussen

FRANKFURT (Reuters) - The European Central Bank will not renegotiate Greece’s bailout package and there are no alternatives to sticking with it if Greece wants to stay in the euro zone, ECB Executive Board member Joerg Asmussen was quoted as saying on Tuesday.

“Greece needs to be aware that there are no alternatives to the agreed bailout program, if it wants to stay in the euro zone,” Asmussen told German financial daily Handelsblatt.

Greece plunged into turmoil after a general election boosted far-left and far-right splinter groups, stripping mainstream parties that back a painful EU/IMF bailout of their parliamentary majority.

The ECB is part of the so-called troika along with the International Monetary Fund and the EU Commission, which monitors the implementation of the bailout program.

Reporting By Eva Kuehnen, Sakari Suoninen and Alexandra Hudson

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