ECB considers the reinstatement of waiver for Greece

22 June 2016
208 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

Lotto results: Saturday 26 May 2018
GREECE
shares58 views
GREECE
shares58 views

Lotto results: Saturday 26 May 2018

Panos - May 26, 2018

The winning numbers from the Lotto draw on Wednesday 23 May are as follows:

Turkey blasts Greece over decision to grant asylum to 8 Turkish officers
GREECE
shares54 views
GREECE
shares54 views

Turkey blasts Greece over decision to grant asylum to 8 Turkish officers

makis - May 25, 2018

The Turkish Foreign Ministry’s spokesman described the decision by the Greek legal system to grant asylum to the eight Turkish…

Moving moments as Pontian Greeks sing at Harry Klynn’s funeral
GREECE
shares62 views
GREECE
shares62 views

Moving moments as Pontian Greeks sing at Harry Klynn’s funeral

makis - May 25, 2018

Greek comedian Vassilis Triantafyllidis, known by his stage name “Harry Klynn”, was laid to rest in Kalamaria at the Church…

Leave a Comment

Your email address will not be published.