For the Governing Council to reconsider the T-Bills ceiling, there should be a credible perspective for a successful conclusion of the current review and subsequent implementation which would imply the disbursement of programme funds by euro area Member States. This would also significantly improve the outlook for future market access by the Greek government.
BIS central bankers’ speeches  3  It should be absolutely clear that the decision on whether to conclude the review of the current programme and disburse further financial support to Greece lies entirely with the Eurogroup, so ultimately with euro area Member States. Hence this is a political decision that will have to be taken by elected policymakers, not by central bankers.