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Draghi says ECB ready to restore credit to Greek banks if creditor agreement in sight
– canadianbusiness.com
FRANKFURT – European Central Bank head Mario Draghi says the bank is ready to restore support for Greece’s banks if talks between the Greek government and its creditors get back on track.
Draghi told EU lawmakers Monday that the parties should “restore the policy dialogue” so talks can could yield “a credible prospect” for a deal on more emergency aid.
Greece and its creditors in the 19-country eurozone have sparred over the conditions Greece needs to fulfil to get more help to avoid defaulting on its debts.
Once a deal is in sight, Draghi said the ECB could restore the ability for Greek banks to tap ECB credit using Greek government bonds as collateral.
Greek Prime Minister Alexis Tsipras is meeting German Chancellor Angela Merkel to try to break the logjam.
The post Draghi says ECB ready to restore credit to Greek banks if creditor agreement in sight appeared first on Canadian Business.
Draghi told EU lawmakers Monday that the parties should “restore the policy dialogue” so talks can could yield “a credible prospect” for a deal on more emergency aid.
Greece and its creditors in the 19-country eurozone have sparred over the conditions Greece needs to fulfil to get more help to avoid defaulting on its debts.
Once a deal is in sight, Draghi said the ECB could restore the ability for Greek banks to tap ECB credit using Greek government bonds as collateral.
Greek Prime Minister Alexis Tsipras is meeting German Chancellor Angela Merkel to try to break the logjam.
The post Draghi says ECB ready to restore credit to Greek banks if creditor agreement in sight appeared first on Canadian Business.
