Commodity Trade Mantra

Posts Tagged ‘Sovereign Credit Risk’

The Euro Crisis: Solvency of the ECB is at Stake

How the Greek crisis is a euro crisis: ECB itself now needs refinancing as losses that ECB faces from Greece alone are about €189.3bn – twice its equity capital & reserves of €98.5bn. Given the likely collapse of the Greek banking system & default on its debt, collateral held by ECB are more or less worthless. Upsetting of the Greek applecart risks destabilising the euro itself.

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