Draghi rules out QE for Greece for now

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Prime Minister Alexis Tsipras's roadmap stipulated that after the second review of the country's third bailout is wrapped up, creditors and the International Monetary Fund would agree on how to make the country's debt sustainable, and this would in turn allow Greece join the QE program, which would pave the way for the country's return to international markets.

But with the review all but concluded, and no definitive statements from the creditors on what sort of debt relief measures it can expect -- or when -- the best the government can hope for now is that the sequence of events outlined in the Tsipras roadmap will take place in the fall at the earliest, and definitely after the German national elections in September.

The way things stand now, the most the government can expect from the June 15 Eurogroup is the release of the bailout tranche of more than 7 billion euros, but not the reassurance it wants in order to join the QE program.