ECB Eases Greek Banks’ Access to Cash as Reform Efforts Rewarded
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The European Central Bank acted to ease Greek banks’ access to funding by accepting the country’s bonds in exchange for cash for the first time since July.
The Frankfurt-based ECB said today it will take debt instruments issued or guaranteed by the Greek government as collateral again, citing “the wide range of measures already implemented by the Greek government in the areas of fiscal consolidation, structural reforms, privatization and financial sector stabilization.”