Draghi defends Greek waiver decision in heated parliament session

Mario Draghi of the European Central Bank
ECB president Mario Draghi

European Central Bank (ECB) president Mario Draghi yesterday dismissed criticism of its decision to end its waiver on Greek government bonds.

"Let me make clear the issue of the waiver is an issue of rules," he said in testimony to the European Parliament, which occasionally saw tempers flare.

Draghi said the cancellation of the waiver, which had allowed the use of Greek government bonds as collateral in ECB operations despite their low ratings, was not a whim of the Governing Council but simply

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