Wednesday, July 22, 2015

22/7/15: Another ECB Plasma Bag for Comatose Greek Banks

Another lift for Greek banks' ELA via ECB - a EUR900 million click, as previously:

Once again, the situation remains unaltered - Greek banks remain tied to ELA for funding, while capital controls cannot be lifted under small tick increases in ELA. In effect, we have a nurse replacing the empty plasma bag for a comatose patient. Nothing new, nothing dramatic...

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