ECB President Says Greek Banks are Secured Until End of Aid Program

Greek Prime Minister Alexis Tsipras was reassured by European Central Bank (ECB) President Mario Draghi during their half-hour meeting in Brussels on Monday that the stability of the Greek banking system is ensured until the end of the country’s aid program, government sources said.

According to the sources, Draghi noted the need to strike a deal as soon as possible, while Tsipras mentioned the Greek bonds valued at 27 billion euros that had been bought by the central bank when Jean-Claude Trichet was at the helm and whose repayment is now pending.

Greek government Vice President Yiannis Dragasakis and ECB’s Benoit Coeure were also present.
(source: ana-mpa)


  1. Aid Program? Which aid program? Another nebulous comment from ECB’s Draghi. If Greece’s banking system collapses the auto default occurs and there is a Grexit. All that “Mario the Magnificent” is doing is supporting the exportation of Euros from Greece.

  2. Actually, Mario is exporting Euros to Greece, so Greeks may export them to banks in solvent states, or hide them in their homes.

  3. Absolutely correct. This is a monetary wash to keep Greek Banks solvent as billions are exported out of the country to EZ financial institutions. Nothing magnificent here, just Mario doing what he is told to do primarily by Germany. Hiding Euros in your home can be risky your wife or girlfriend might find it..:-)