Author: Mike Paterson

And back to market news we have a few comments floating around after the Riga meeting finished yesterday

German fin min Wolfang Schaeuble said EU policy makers shouldn't be confronted with questions about preparations for a possible Greek default, the impostion of capital controls and the issuance of debt certificates

The question whether there are alternatives if the world ends or everything turns out differently than one wants, despite best efforts, is one that shouldn't really be put to politicians in positions of responsibility

At the same press conference Bundesbank head Jens Weidmann said that officials will discuss haircuts on collateral for emergency funding for Greek banks but he has misgivings about granting emergency funding to Greece as the liquidity situation at the country's banks has not improved.

As you know I have concerns about granting emergency liquidity on account of the fact that the banks are not doing everything to improve their liquidity situation

ECB's Draghi said yesterday that Emergency Liquidity Assistance (ELA) would continue to be given to Greek banks as long as they are solvent and have adequate collateral.

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