European Central Bank will revoke waiver for Greek banks

The European Central Bank said on Friday it will restrict Greek banks’ access to its cheapest funding operations from Aug 21, a day after the country's bailout program ends, ANA reports. The ECB will revoke a so-called ‘waiver’ which permitted Greek banks to post junk-rated government bonds as collateral in regular funding operations, in a move that will boost funding costs for Greek lenders. RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report Photo Source: Wikimedia Commons Copyright: DaveOinSF~commonswiki  License: CC-BY-SA