FRANKFURT (MNI) – The European Central Bank’s decision to suspend
collateral rules for Greek assets will maintain financial stability, and
help Greece’s adjustment program, International Monetary Fund Managing
Director Dominique Strauss-Kahn said Wednesday.
“We very much welcome the European Central Bank’s announcement …
that it has decided to suspend the application of the minimum credit
rating threshold in the collateral eligibility requirements for the
purposes of the Eurosystem’s credit operations in the case of marketable
debt instruments issued or guaranteed by the Greek government,”
Strauss-Kahn said in a statement.
The decision will provide “important support” to Greece’s program
of fiscal adjustment “by helping to maintain financial stability,” he
added.
–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
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