ECB boon for Greece as euro finance ministers mull response to virus

As eurozone finance ministers met into the night to discuss the bloc's response to the Covid-19 pandemic, Prime Minister Kyriakos Mitsotakis meanwhile welcomed a decision by the European Central Bank to accept Greek government bonds as collateral as a move "that will further boost liquidity in the economy."

The decision came to fill what is seen as a void left by eurozone governments whose finance ministers labored into the night on Tuesday to agree on a response to the pandemic to avoid the dire economic consequences.

The ECB's decision to increase its risk tolerance and accept junk-rated Greek government bonds as collateral is part of wide-ranging measures to ease lenders' access to liquidity. 

Finance Minister Christos Staikouras hailed the decision as one that will significantly expand the funding sources of Greek banks and consequently strengthen their...