ECB considers the reinstatement of waiver for Greece

22 June 2016
244 Views

The European Central Bank is considering the possibility of reinstating the waiver to allow Greek government bonds to be used as collateral in ECB lending. This announcement came by ECB chief Mario Draghi on Tuesday, as he addressed the European Parliament’s Economic Affairs Committee.

According to Draghi, the ECB’s governing council is considering the waiver in light of the ESM’s recent decision to disburse 7.5 billion euros towards Greece. The ECB chief though was quick to point out that such a development does not mean that Greek bonds will necessarily be eligible for the Quantitative Easing program (QE), since a debt sustainability analysis must first be carried out.

Nevertheless, the ECB chief reported that the situation in Greece will continue to improve and stabilize and underlined that the new legislation on non-performing loans (NPLs) is crucial, as it will allow banks to better manage them. He further explained that this will help restore confidence and lift the capital controls.

You may be interested

US Amb Pyatt: The stronger Greece is, the more it can act as a stabilizing force in the region
GREECE
shares15 views
GREECE
shares15 views

US Amb Pyatt: The stronger Greece is, the more it can act as a stabilizing force in the region

makis - Apr 20, 2018

Greece can act as a stabilizing force for good in the wider region and the stronger Greece is, the better…

Kotzias – Dimitrov to meet again on April 25, in Vienna
POLITICS
shares14 views
POLITICS
shares14 views

Kotzias – Dimitrov to meet again on April 25, in Vienna

makis - Apr 20, 2018

According to the FYROM government spokesman, Mile Bosnjakovski who spoke on Friday, there will be a new meeting between the…

Alexandros Stamatiadis dies in hospital
GREECE
shares30 views
GREECE
shares30 views

Alexandros Stamatiadis dies in hospital

makis - Apr 20, 2018

Greek businessman Alexandros Stamatiadis has died after being hospitalised in critical condition for 18 days. The businessman, 52, was shot…

Leave a Comment

Your email address will not be published.