ECB considers the reinstatement of waiver for Greece

22 June 2016
751 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

Visit the Greek island in the 100 most impressive list in the world
GREECE
shares18 views
GREECE
shares18 views

Visit the Greek island in the 100 most impressive list in the world

Panos - Aug 05, 2021

Ios was recently included in the list of the most impressive islands in the world on the news site Insider.com.…

Mitsotakis: The critical infrastructures endured – The houses will be rebuilt
GREECE
shares21 views
GREECE
shares21 views

Mitsotakis: The critical infrastructures endured – The houses will be rebuilt

Panos - Aug 05, 2021

The Greek Prime Minister, Kyriakos Mitsotakis and the Deputy Minister of Civil Protection, Nikos Hardalias made statements after the extraordinary…

Ancient Olympia: The International Olympic Academy is safe for now – Battle with the fire resurgences (video)
GREECE
shares24 views
GREECE
shares24 views

Ancient Olympia: The International Olympic Academy is safe for now – Battle with the fire resurgences (video)

Panos - Aug 05, 2021

A new alarm for Ancient Olympia as, early in the morning, a new front emerged, heading towards the facilities of…

Leave a Comment

Your email address will not be published.