|MONDAY, MAY 3, 2010|
INVESTOR SENTIMENT READINGS
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Citigroup Panic/Euphoria Model
2. The dilution of central bank rules keep being expanded as is the whole charade that central banks do act on behalf of the countries they are supposed to work for. ıt gets very obvious that central banks act only in the interst of banksters who work for the plutocratic organization who tries to run their NWO agenda. this bailout is not for Greece at all but another backdoor bailout of banks only this time AIG is replaced by Greece as the medium.
ECB Scraps Greek Debt Collateral Rules Indefinitely
May 3 (Bloomberg) -- The European Central Bank said it will accept all Greek government debt as collateral when lending to banks, indefinitely suspending minimum credit-rating thresholds to support a 110 billion-euro ($145 billion) bailout of the debt-strapped nation.
The decision came after Greece reached agreement yesterday on the conditions for the three-year package of loans from the International Monetary Fund and its euro-region allies. Under the plan backed by the ECB, Greece pledged another 30 billion euros in budget cuts to bring a deficit of 13.6 percent of gross domestic product back within the EU limit of 3 percent in 2014.
“The ECB is a key player in the rescue package designed to help Greece and it is clearly buying insurance against the likelihood of further multiple downgrades of the Greek debt, something that might lead to a halt of ECB financing to the Greek banks,” said Silvio Peruzzo, an economist at Royal Bank of Scotland Group Plc in London.