Tag: 爱上海JY

nzchspbr

ECB turns the screws on Greece

first_imgThe bank holiday has been extended by at least two days (until Wednesday night), but local lenders are now just a step away from serious solvency problems after the European Central Bank decided on Monday to increase the haircut on the collateral they use to draw liquidity.Frankfurt’s decision sent shock waves through Greece’s banking sector as hardly anyone had expected it would use a haircut on collateral to send its own message before the political decisions expected on Tuesday in Brussels. In doing so, the ECB is further increasing the pressure on the Greek government to agree to a deal at Tuesday’s eurozone summit, otherwise the country’s banks may face a sustainability problem on top of their liquidity woes.The haircut increase reduces the last cash banks can draw from the emergency liquidity assistance (ELA) by two-thirds, running the risk of finding themselves unable to complete any transactions and thus be deemed insolvent.The European Stability Mechanism (ESM) warned late last week that Greece’s failure to pay a 1.6-billion-euro tranche to the International Monetary Fund on June 30 constitutes a payment default and allows the ESM to immediately demand all the funds it has lent to Greece and confiscate all bank shares controlled by the Hellenic Financial Stability Fund (HFSF).Banks estimate that after Monday’s decision the ceiling on the cash available for them to withdraw has dropped from 18 billion euros before the haircut increase to just 5 billion. A similar increase at Wednesday’s ECB meeting would mean that Greek banks would be unable to cover the liquidity they have already drawn with new collateral.The ECB also kept the limit on the ELA available to Greek lenders unchanged and will review the situation at Wednesday’s meeting, i.e. after the completion of Tuesday’s eurozone summit.Bank officials are clearly saying that the country has reached the point of no return and is at risk of bankruptcy unless there is an immediate agreement between the SYRIZA-led government and Greece’s creditors.Source: Kathimerini Facebook Twitter: @NeosKosmos Instagramlast_img read more

CONTINUE READING
kevlwpks

What an MLB source said about the Dbacks trade h

first_img What an MLB source said about the D-backs’ trade haul for Greinke Nevada officials reach out to D-backs on potential relocation “I also know this. There were four quarterbacks taken in the first 12 picks of this year’s draft and every one of them, in my opinion, has a much lower percentage of being a franchise quarterback than Kolb has. Every one of them.”Wolf brings up a solid point. Depending on which general managers and personnel guys were asked, the answer would vary greatly. Logic dictates that the newspaper wouldn’t have talked with representatives of teams in search of a longterm answer at quarterback since they’d be unwilling to talk about their plans. Thus, the people who were asked likely wouldn’t be willing to give up much for a quarterback like Kolb.A team like the Arizona Cardinals knows all too well the value of a, not even great, but good starting quarterback. When you look at the struggles Ken Whisenhunt and his staff had at the position in 2010 (and what the franchise has struggled with most of its existence) you can see how what they’re willing to spend would be much higher than other teams.It doesn’t matter what seven anonymous people have to say about Kolb, when it comes to the Cardinals the only thing that matters is what Whisenhunt and the front office has to say. Top Stories D-backs president Derrick Hall: Franchise ‘still focused on Arizona’center_img Comments   Share   The Boston Globe on Monday polled seven anonymous NFL general managers and player personnel people about how much they’d be willing to give up for Philadelphia Eagles backup quarterback Kevin Kolb. Of those seven ‘experts’, six said they wouldn’t give up a first round pick for him.It was a report that got Sports 620 KTAR’s Ron Wolfley fired up.“The anonymous source thing drives me crazy,” he said Monday morning on Doug and Wolf.“When you’re anonymous you’re likely to say a lot more things. A lot of things you don’t even believe. That’s number one. Number two, I will tell you this, if you’re an anonymous source and you have Peyton Manning and Tom Brady as your quarterback, do you think Kevin Kolb is going to be worth giving up a one for? Cardinals expect improving Murphy to contribute right awaylast_img read more

CONTINUE READING