Brussels, 23/06/2016 (Agence Europe) - On Wednesday 22 June, the ECB announced that as of 29 June, it would once again accept Greek government debt securities presented to it by banks looking to refinance themselves from it.
The value of these securities will be subjected to special haircuts, which will be detailed in a legal document to be presented at the end of the month by the monetary institute.
This decision, which was expected, comes after the finalisation of the first monitoring mission of the third Greek bailout plan with an envelope of €86 billion from the European Stability Mechanism, a stage which opened the door to the disbursement of a tranche of €10.3 billion, €7.5 billion of which was paid to Athens on Tuesday 21 June.
“The Governing Council also acknowledges the commitment of the Greek government in implementing the ESM macroeconomic adjustment programme and, therefore, expects continued compliance with its conditions”, the ECB states in a press release.
The European institution also stresses that the entry of Greek government securities into the scope of application of the 'quantitative easing' programme for the mass buyback of securities, mainly government ones, will be examined “at a later date, taking account of the progress made in the analysis and reinforcement of the viability of the Greek debt”. The Greek finance minister, Euclide Tsakalotos, spoke of September for this, but this is felt within the ECB to be overly optimistic. (Original version in French by Mathieu Bion)