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ECB: 8 March 2012 – Eligibility of bonds issued or guaranteed by the greek government in Eurosystem credit operations
Ok, I read the English press release and am left wishing they had it in Italian or something because it would make as much sense. All I can guess is this is a way around some technicality but I’m not really sure. I think it is a non event as they will ind ways around any technicality or this is part of some bank recap effort – part of the bailout. Suddenly CDS seems straightforward
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ECB: 8 March 2012 – Eligibility of bonds issued or guaranteed by the greek government in Eurosystem credit operations
2012-03-08 14:31:35.436 GMT
http://www.ecb.int/press/pr/date/2012/html/pr120308_1.en.html
PageExcerpt:
The Governing Council of the European Central Bank (ECB) has acknowledged the activation of the buy back scheme, provided to underpin the quality of marketable debt instruments issued or fully guaranteed by the Hellenic Republic. In light of this, …
