Waiting period by the ECB – “Freezes” but it doesn’t cut the liquidity assistance facility

28 June 2015

global news-people re-el magazine

After a marathon teleconference, the Governing Board of the European Bank decided to keep stop waiting and keep unchanged the ceiling of emergency liquidity assistance facility of 90 billion. Also there was no decision to change the height of the “haircut” of guarantees paid by Greek banks to raise liquidity from the European mechanism.

According to the official ECB’s announcement John Stournaras said “The bog is and remains a member of the European banking system. They will be taken all measures necessary to guarantee economic stability for Greek citizens in these difficult situations “.

On his part, Mario Draghi, the president of the European Central Bank said, “we will continue to work closely with the Bank of Greece and support the commitment of Member States to pledge to take action to address the shortcomings of the euro area economies »

According to the ECB’s announcement:

ECB takes note of the decision on the Greek referendum and the failure to extend the EU’s support program
The ECB will work closely with the Bank of Greece to maintain financial stability.
The mechanism, emergency liquidity assistance is maintained at levels (June 26, 2015) at Friday.
The Governing Council is ready to review its decision.
The Governing Council is monitoring closely the situation and its possible implications for monetary policy.

Source: www.kontranews.gr


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