GREECE Plan for Greece suspended


Thewarning shotwas fired at about 10pm Wednesdayin Frankfurt. The European CentralBank (ECB)has put themaximum pressure onthe


February 6 th, 2015

Greek governmentby suspending thegrantedto Greekbanks. The latter canborrow moneyfrommonetaryinstitutionswith lowerthan normal guarantees. In practice, thisdoes not call the liquidity of Greek banks intoquestion. The measure was born out of a great need.They could alwaysrefinancewith the ECBat ahigher rateand withthe riskborne only by theBank of Greece.

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