Did Draghi set the stage for an ECB contribution to the Greek rescue?

Author: Jamie Coleman | Category: Central Banks

It seems so. His last statement of the press conference implied that the price at which the ECB transfers its bond holding to the EFSF is the issue, not the transfer itself.

If it transfers the bonds to the EFSF at a loss, it is a monetary contribution to Greece. If they transfer them at a profit, it is a distribution to member states, which the ECB does annually.

Sounds like he has set the stage for shedding the Bank’s Greek bonds but it all comes don to price.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose