2nd LD Writethru: ECB not to creat new rules for Greece,implying no additional aid

European Central Bank President Mario Draghi said on Monday that the lending institutions would not create rules for Greece, suggesting that all sides follow existing rules and that no additional aid go to address liquidity difficulty in Greece.

At a hearing in the European Parliament, Draghi explained ECB's intention and stance on important economic issues, ranging from Greek problem to bond purchase programme, and called on the Greek government to fully honour its debt obligations to all its creditors.

As to the question on blackmailing, Draghi noted that the ECB has 104 billion euros exposure in Greece, which equals to 65 percent of Greek GDP and means no blackmail for the debt-striken country.

On the issues of Emergency Liquidity Assistance (ELA) mechanism and T-Bill,Draghi said 15 billion euros T-bill ceiling is not an ECB decision, but a Eurogroup program decision.

Draghi said what is needed in Greece is a process that restores policy dialogue between Greek government and three institutions composed of the ECB, the European Commission and the International Monetary Fund.

Until then, Greek government is relying on the more expensive Emergency Liquidity Assistance (ELA) mechanism, as the recently elected anti-bailout Syriza government faces a financing gap, fuelling concern over a credit event in coming weeks.

Under the February 20 Eurogroup agreement for an extension of the four-year Greek bailout which expires in June, the assessment by international lenders should be made in April. Endit