European Central Bank relaxes Greek debt criteria

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The European Central Bank suspended Monday criteria for Greek debt it accepts as collateral for loans of central bank funds, easing pressure further on the Greek government and banks.

The ECB governing council "decided to suspend the application of the minimum credit rating threshold in the collateral eligibility requirements for the purposes of the Eurosystem's credit operations in the case of marketable debt instruments issued or guaranteed by the Greek government," a statement said.

© 2010 AFP

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