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Tag Archives: Constancio

ECB Vice: Austerity Program for Greece was indeed too harsh

The eurozone’s southern members have done enough to reform their economies and reduce risk in their financial systems for the bloc to speed up banking union, the vice-president of the European Central Bank has said, in an implicit criticism of German foot-dragging. In an interview with Financial Times,  Vítor Constâncio, …

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ECB Vice Constancio: Grexit threat was “never for real”

Vice President of the European Central Bank Vitor Constancio openly  admitted that the threat of kicking Greece out of the euro zone during the spring negotiations was “never for real” because it would not be legal. So simple. So cynical. So unabashed. So real. In an interview to Reuters, Vitor …

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ECB report: “Default risk expectations increased sharply for Greece”

The European Central Bank issued it Financial Stability Review today and made very important conclusions: that Default risk has increased for Greece and that the Greek banking sector has suffered substantial deposit outflows. “Wow,” as Finance Minister Yanis Varoufakis would say expressing his astonishment about the extremely surprising and nonplus …

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