ECB eases collateral requirements for Greek bonds as borrowing costs soar
Greek 10-year yields climb towards 9%
The European Central Bank (ECB) will reduce the haircut it applies to Greek government bonds when accepting them as collateral, it announced today - a move that will provide banks with relief after witnessing a fire-sale of Greek assets this week.
Greek 10-year yields rocketed to 8.94% today - up from 6.6% a week ago - as investors concerned about the prospect of Greece exiting its IMF programme early continued to sell bonds and stocks.
The country's finance minister, Gikas Hardouvelis, has
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