Business & Finance
Not twist the rules ‘ECB’
VATICAN CITY : The European Central Bank will not break its rules and should not be pushed to finance the Greek or any o
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"Asking the ECB, as has been the case recently, to extend the maturities of the government bonds it holds or to accept as collateral bonds from a state that is considered to have defaulted is a violation of the principle prohibiting the central bank from monetarily financing the treasury," Bini Smaghi said in the text of a speech given at the Vatican.
"Any pressure whatsoever of this kind flouts the regulations on independence that protect the ECB."
Copyright Reuters, 2011