19 Aug 2015
Liquidity conditions improved in Greece – BBH
FXStreet (Edinburgh) - The research team at BBH has assessed the recent ECB decision to cut the ELA mechanism for Greek banks.
Key Quotes
“The ECB’s decision to cut Greece’s ELA yesterday was actually a favourable development”.
“It is a sign that Greek banks do not need as much as had been granted”.
“The Greek central bank that formally makes the request asked for 700 mln euro fewer euros”.
“It cited the improved liquidity conditions. Confirmation that depositors would not be bailed into the recapitalization program has helped ease anxiety. Tourism inflows have also reportedly increased”.
Key Quotes
“The ECB’s decision to cut Greece’s ELA yesterday was actually a favourable development”.
“It is a sign that Greek banks do not need as much as had been granted”.
“The Greek central bank that formally makes the request asked for 700 mln euro fewer euros”.
“It cited the improved liquidity conditions. Confirmation that depositors would not be bailed into the recapitalization program has helped ease anxiety. Tourism inflows have also reportedly increased”.