ECB eases collateral requirements for Greek bonds as borrowing costs soar

The European Central Bank (ECB) will reduce the haircut it applies to Greek government bonds when accepting them as collateral, it announced today - a move that will provide banks with relief after witnessing a fire-sale of Greek assets this week.

Greek 10-year yields rocketed to 8.94% today - up from 6.6% a week ago - as investors concerned about the prospect of Greece exiting its IMF programme early continued to sell bonds and stocks.

The country's finance minister, Gikas Hardouvelis, has sugg

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