FRANKFURT (MarketWatch)
The European Central Bank on Friday said debt issued
or fully guaranteed by the Greek government will become "for the time being
ineligible" for use as collateral in monetary policy operations due to the July
25 expiration of a buyback program
The ECB said that, "in line with established
procedures," its Governing Council would assess the potential eligibility of
Greek bonds at the conclusion of an ongoing review of Greece's compliance with
its bailout terms by the European Commission, the ECB and International Monetary
Fund
The ECB said liquidity needs may be addressed by the Greek central bank
"in line with existing Eurosystem arrangements."
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Billie, with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
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