Here is our third piece of news in addition to the video introduction below! We posted ahead of schedule since we would like you to know more about how the situation goes!
Related concepts:
Global monetary cooperation
International Trade
Economic partnership/interdependence
Global monetary cooperation
International Trade
Economic partnership/interdependence
The European Central Bank tightened Greece's access to cheap liquidity, thus they can't repay their debts by issuing junk-rated bonds. Analysts say that unless Greece comply with the bailout programme, the European Central Bank will not reinstate the waiver. They also say that bank runs will follow. On the other hand the Greek government debts can still access Emergency Liquidity Assistance. Whether the Bank of Greece chooses help, limits are stilled imposed on accepting sovereign debts as collateral. The Greek government's plans to fund itself through the four-month period partly through the issuance of short-term Treasury bills in exchange for central bank cash.
The Financial Times
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