ECB Halts Lending to Some Greek Banks as Draghi Talks Grexit

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Source: Bloomberg
For the first time President of the European Central Bank Mario Draghi acknowledged the possibility of Greece exiting the euro area, making it clear that balance sheet's integrity is the top priority for ECB despite their strong commitment to keep the currency area together. Following this announcement, ECB will temporary stop issuing loans to some Greek banks until they finalise recapitalisation. As soon as it is done, the financial institutions will be able to access standard Eurosystem refinancing operations again.

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Thu, 17 May 2012 09:48:29 GMT

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