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ECB – Greek Bonds collateral: “Blackmail” is the answer

Blackmail is the only “strategy” they know. And they apply it again towards Greece. The European Central Bank allegedly is preparing to accept again “Greek bonds as collateral for liquidity” provided that the “Pension Reform passes through the parliament.”

“ECB prepares to again accept Greek bonds as collateral for cash once pension reform is passed.

Kathimerini reports that the ECB is preparing to reintroduce the waiver allowing Greek banks to use Greek bonds as collateral for liquidity. However, the move is only expected after the Greek parliament passes the government’s new pension reform.

In a separate article, Kathimerini also quotes a high-ranking European official as saying that Eurozone finance ministers are unlikely to give their final approval to the Greek pension reform before February. Agreement on the pension reform is essential to finalising the next review of Greece’s bailout programme – and would pave the way for debt-relief talks.” (via OpenEurope)

Sic transit gloria et democratia mundi

or in simple language:

The answer is “blackmail” whatever was the question.

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