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|User Info||ECB will no longer lend against Greek bonds; entered at 2012-02-28 13:23:25|
Registered: 2011-03-16 Pasadena, CA
The ECB is cutting off credit to banks want to pledge Greek bonds. |
I wonder if it applies to French and German banks that have already parked their Greek bonds with the ECB.
ECB edict leaves Greek banks reliant on emergency aid
(Reuters) - The European Central Bank announced on Tuesday it would no longer allow borrowing against Greek government bonds, a temporary move that will force Greek lenders to turn to their national central bank for emergency funding.