According to government sources, despite the European Central Bank’s decision to stop accepting Greek bond as collateral, the Greek banking system is fully secured.
The sources explain that the ECB’s decision was political and will have few consequences on the Greek banks, as explained in a recent Bloomberg article. The liquidity of Greek banks is also covered by the ELA, with Greek banks able to draw a further 10 billion euros.
Additionally, the sources notes that the government is determined to find a mutually beneficial solution, for Greece and the EU. This is only possible through further negotiations within EU regulations and by ending the humanitarian crisis in Greece.
Finally, the Greek government is prepared to honor the fresh mandate it received to provide social and financial stability does not intend to blackmail or be blackmailed by anyone.
