The Greek commercial banks receive from the European Central Bank enough room to get to the national central bank to credit. A danger that Greece is therefore short-term acute liquidity problem is provisionally averted. That says a person close to the European financial base in response to a notice of an equally anonymous, spokesman for the Greek government on Thursday that Greece’s central bank of the European Central Bank has been given the additional space for up to € 10 billion to provide credit to the Greek private banks.
On Wednesday, the ECB decided that the Greek commercial banks no appeal may do more in the line of credit of the ECB. That was a reaction to the earlier communication from Athens that the troika is no longer welcome in Athens. This move by the ECB means that the so-called waiver will stop put. That was different anyway happened anyway on 1 March.
The waiver meant that banks in countries like Greece exceptionally anyway in were given the opportunity to take credit from the ECB on the basis of a fact insufficiently qualified collateral. Greek banks have a lot of Greek government bonds with a low credit standing. Under the condition that a program country “as Greece’s compliance with the agreements reached there with the lenders EU, ECB and IMF had been made on the policy, the ECB was prepared to provide the commercial banks’ credit against that actually poor collateral.
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In practice, this principle has been undertaken so that in the period that the Greek government with the Troika of negotiators from EU, ECB and IMF could not agree on the policy, if one so still” negotiating “was that the waiver for Greece just was maintained. There was already a decision of cases would stop this facility on 1 March. After Athens in recent days had requested not to do business with the troika of the ECB decided three weeks ago to pull the plug out.
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