ECB warns draft Greek law could damage banks
Key details of measure are unclear but could be damaging, says ECB
The European Central Bank has strongly criticised the Greek government over a new draft law designed to give relief to private debtors.
The ECB said in an official opinion that the law could harm Greece’s efforts to deal with its high level of non-performing loans (NPLs), and damage the country’s banks. The draft law was proposed by the country’s coalition government, led by the left-wing Syriza party.
Under the law, debtors could apply for relief for loans on their primary residences, if
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