S&P holds off on new rating upgrade, ECB holds key to investment grade
Some key tasks pending as Greece edges closer to completing post-programme process
PBO highlights exceptional factors supporting recovery, cautions against complacency
Govt grabs opportunity offered by escape clause to entice voters with support package
Recovery in car sales slows to 2.7 pct in August
Rise of property prices continues with 4.6 pct increase in Q2
A snapshot of Greek banks' ABS as ECB readies for next move
The European Central Bank (ECB) announced on September 4 that it will proceed with a large-scale purchase of asset-backed securities (ABS) as well as euro-denominated covered bonds issued by eurozone banks starting from October.
Although detailed modalities of both programs will be announced on October 2, it appears that Greek banks will be excluded from the ECB’s largest quantitative easing measures. The key reason is the country rating (‘B’ by S&P and Fitch and ‘Caa1’ by Mood...
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