Drachma Debt, A Real Draghi Queen
Yesterday, Greek markets tumbled after the ECB put more pressure on the country by revoking a waiver that allowed banks to use Greek government debt as collateral for loans.
Athens' ATG stock index plummeted 9% in early trade before recouping marginally. Athens' ATG stock index is trading down 5.6%, and Greek bonds have also taken a beating.
"It is currently not possible to assume a successful conclusion" of Greece’s current bailout, the ECB said late Wednesday, just hours after its president, Mario Draghi, met with Greek finance minister Yanis Varoufakis.
The Nattering One muses... Imagine what would happen if The Fed (read pawnbroker) did not allow banks to use crisis MBS (Mortgage Backed Securities) as collateral for loans?
Athens' ATG stock index plummeted 9% in early trade before recouping marginally. Athens' ATG stock index is trading down 5.6%, and Greek bonds have also taken a beating.
"It is currently not possible to assume a successful conclusion" of Greece’s current bailout, the ECB said late Wednesday, just hours after its president, Mario Draghi, met with Greek finance minister Yanis Varoufakis.
The Nattering One muses... Imagine what would happen if The Fed (read pawnbroker) did not allow banks to use crisis MBS (Mortgage Backed Securities) as collateral for loans?
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