Friday, June 15, 2012

ECB says ready to provide liquidity if needed

    The European Central Bank will continue to provide funds to healthy banks during the current turmoil in the euro area, ECB President Mario Draghi said.
    "As you are all aware, the ECB has the crucial role of providing liquidity to sound bank counterparties in return for adequate collateral. This is what we have done throughout the crisis, faithful to our mandate of maintaining price stability over the medium term – and this is what we will continue to do. The Eurosystem will continue to supply liquidity to solvent banks where needed," Draghi said in a speech in Frankfurt.
    Draghi's remarks come ahead of this weekend's election in Greece that could decide whether the country remains in the 17-nation euro area, a decision that has financial markets on tenterhooks.
    Click here for Draghi's speech.


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