Authors: Gikas Hardouvelis,Platon Monokroussos
Publication: Focus – Greece, Eurobank Research, March 26 2010
European Union leaders agreed yesterday to create a joint financial safety net to help crisis-hit Greece or any other euro area member state facing difficulties in accessing credit markets. Separately, ECB President Jean-Claude Trichet said yesterday that the central bank would maintain its present minimum rating threshold for collateral accepted against central bank funds at BBB- beyond the end of 2010 and introduce a ‘‘haircut’’ system of discounting collateral.
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