Blog/Uncategorized
Posted May 5, 2013 by Martin Armstrong
The deal at the ECB shows what they themselves think of government debt. They are accepting Cypriot bonds as collateral for loans. At the ECB, a 10 year bond of a member is discounted to 29% of its face value. Interesting how the ECB does not consider government debt as really “quality” for borrowing.
Categories: Uncategorized
