They won’t write down the debt, which would be tantamount to government financing by the ECB, but they may give Greece more time to pay.
The ECB holds some debt that expires in 2014 and Greece has asked for an extension, according to MNI sources within the central bank.
Anything that keep’s Greek hands out of euro zone pockets is probably a fundamental plus for the euro near-term, though it just delays the day of reckoning to some future date.
