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GreekReporter.comGreek NewsEconomyTrichet: If Greece Defaults, ECB will Not Accept Government Bonds

Trichet: If Greece Defaults, ECB will Not Accept Government Bonds

During his interview with the Financial Times yesterday, the departing Head of the ECB Jean Claude Trichet made clear that if Greece is pushed into default, then the ECB will no longer be able to accept its government’s bonds as collateral to support the countries’ banks.
Therefore, he asked other Eurozone members to take necessary measures in order to avert economic catastrophe.
The former French finance official and Banque de France governor added that the current financial crisis is not only a problem of the Eurozone but one of the whole Western World.

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