Vitor Constancio

Jeroen Dijsselbloem’s position as as EuroGroup President could be on the line, according to Reuters folloiwng his demeaning remarks about southern Europea squandering money on “women and drinking”. From Reuters:

The European Central Bank's vice president called on Friday for the creation of government-backed bad banks to help buy some of the 1 trillion euros in unpaid loans that have weighed on eurozone banks since the financial crisis.

In August 2015, the Tsipras (SYRIZA/ANEL) government agreed to a new MoU and a Financial Assistance Facility Agreement [loan agreement].

The effects of a potential Greek default on the country's banks cannot yet be predicted, ECB vice president Vitor Constancio said on Saturday, stressing that he did not foresee a default.

By John O'Donnell & Georgina Prodhan

European Central Bank policymakers played down the prospects of any immediate loosening of funding for cash-strapped Greece, saying that when it came to accepting the country's bonds as security for central bank credit, the answer remained no.

The European Central Bank is working on the assumption that Greece won't leave the euro, the bank's Vice President Vitor Constancio said on Thursday.

Greece would face significant costs if it introduced a parallel currency or capital controls to manage its financial crisis, European Central Bank Executive Board member Yves Mersch said.

European Central Bank Vice President Vitor Constancio said he was confident Athens and its creditors will agree a deal to avoid Greece leaving the euro zone.

An interview with Vitor Constancio, Vice President of the ECB, with daily Dutch newspaper Het Financieele Dagblad also included a focus on Greece:

Are you concerned about Greece and, if it comes to a Grexit, do you fear the spread of contagion affects to other euro area countries? 

 Top Euro bankers warn that collateral for drawing liquidity may soon run out for domestic lenders

Top European bankers warned on Monday of the risk that Greek banks may not be able to obtain further liquidity due to lack of collateral, piling more pressure on Athens to reach a compromise with its creditors.