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| User Info | ECB will no longer lend against Greek bonds; entered at 2012-02-28 13:23:25 | |||
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Marvinmartian Posts: 751 Registered: 2011-03-16 Pasadena, CA 
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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. http://www.reuters.com/article/2012/02/2.... 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. | |||