Draghi Rules Tested by Greece as ECB Mulls Bank Solvency
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Mario Draghi’s mantra that the European Central Bank is a rules-based institution is being tested to breaking point by Greece.
The question of whether Greek lenders still meet the solvency and collateral requirements for the 83 billion euros ($93 billion) of emergency funding they currently receive is becoming ever more pressing. The ECB president, who will head a meeting of his Governing Council on Wednesday, warned this week that a positive answer can’t be taken for granted.