Weidmann warns Greek ELA could raise ‘serious monetary financing concerns’
Bundesbank president says Eurosystem must not provide bridge financing to Greece
Deutsche Bundesbank president Jens Weidmann has warned the ongoing provision of emergency liquidity assistance (ELA) to Greek banks could give rise to "serious monetary financing concerns" if those funds are used to buy sovereign debt.
Addressing the Institute of International Finance (IIF) Europe Summit in Frankfurt today (June 25), Weidmann stressed ELA has been provided for a "protracted period of time" and is now Greek banks' only source of funding. "This casts doubt on their financial
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