Draghi: Restoring waiver for Greek banks bumped to June 22

4 June 2016
208 Views

As expected the European Central Bank will await implementation of the latest prior actions taken by Athens before restoring a waiver that allows Greek bonds to be used as collateral within the ECB system, a development that would have boosted liquidity and cheapened the cost of borrowing by Greece’s systemic banks.

ECB head Mario Draghi, as expected, cited this exact point in statements after an ECB board of directors’ meeting in Vienna on Thursday.

Although the fact that the waiver was not restored doesn’t affect banks’ results in the present, the optimism cultivated by the leftist Greek government in the recent period and the staggered manner in which it fulfilled the most recent demands by creditors sent yet another negative message to markets – as a well as an ominous

Draghi said creditors must confirm that the first review of the Greek program has truly concluded, with the ECB ready to make a relevant decision on the waiver at its next board meeting in Frankfurt on June 22.

You may be interested

Regling: “We are ready to ease the Greek debt”
FINANCE
shares33 views
FINANCE
shares33 views

Regling: “We are ready to ease the Greek debt”

makis - Feb 23, 2018

Technical work has begun to determine whether Greece will need a debt relief after an expected exit from the rescue…

Turkey threatens violence against Italian drill ship anew in Cyprus!
GREECE
shares48 views
GREECE
shares48 views

Turkey threatens violence against Italian drill ship anew in Cyprus!

makis - Feb 23, 2018

Turkey continued its belligerent stance off the coast of Cyprus on Friday, as it openly threatened violence against the Italian…

Greek PM Tsipras met with German Chancellor Merkel on EU Summit sidelines
POLITICS
shares40 views
POLITICS
shares40 views

Greek PM Tsipras met with German Chancellor Merkel on EU Summit sidelines

makis - Feb 23, 2018

Greek PM Alexis Tsipras met with German Chancellor Angela Merkel on the sidelines of the Brussels EU Summit, Thursday. According…

Leave a Comment

Your email address will not be published.