ecb stops banks using greek debt as loan collateral
Last Updated : GMT 11:15:42
Arab Today, arab today
Arab Today, arab today

ECB stops banks using Greek debt as loan collateral

Arab Today, arab today

Arab Today, arab today ECB stops banks using Greek debt as loan collateral

Arab Today

The European Central Bank on Wednesday announced it was suspending a waiver allowing Greek banks to use government debt as collateral for loans, depriving the banks of a key avenue to much-needed cash.
"Suspension is in line with existing Eurosystem rules, since it is currently not possible to assume a successful conclusion of the programme review," the Frankfurt-based ECB said in a statement,  referring to ongoing talks between the new Greek government and its international creditors.

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