European Central Bank to get questions about Greece, but may not turn on credit tap just yet

Markets Associated Press

European Central Bank head Mario Draghi will likely face a blizzard of questions about Greece at his news conference Thursday.

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The appearance follows a regular monetary policy meeting at which analysts say the bank is likely to take no action.

Greece desperately needs the ECB to start letting Greek banks tap emergency credit again so they can re-open after being closed for two weeks.

But the ECB would need a clear sign that the country has a chance at a rescue package that would keep its government and banks solvent. Greece and eurozone countries have agreed to start talks, but a deal won't be final for several weeks.

Analysts say the bank can act now that Greece's parliament has approved new cutbacks demanded as a condition for starting talks.