The role of the ECB in restricting funding avenues to Greece – will Target2 be next?

Read my post on the role of the ECB in the Greek crisis on the EU Law Blog of Prof. Steve Peers

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3 thoughts on “The role of the ECB in restricting funding avenues to Greece – will Target2 be next?

  1. Ioannis the question I have been trying to work out is under what circumstances the ECB can shut the CB of Greece out from Target2. Individual institutions can be shut out if they are insolvent so presumably after default the ECB could exclude the Greek banks on the grounds of concern about solvency. However I can find no document that specifies under what circumstances the ECB can cut off the CB as an institution. To do so expels Greece from the Euro which no one can do. Can you identify any documents?

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