The Financial Times reports that Draghi is pushing to include low-rated debt from Greece and Cyprus in ABS purchase programs:
As part of the plan, people familiar with the matter say the ECB’s executive board, headed by Mr Draghi, will propose that existing requirements on the quality of assets accepted by the central bank are relaxed to allow the eurozone’s monetary guardian to buy the safer slices, known as senior tranches, of Greek and Cypriot ABSs.
They warn that weaker rules would be resisted by Germany.
