ECB ban on Greek bonds is an act of coercion

EP Vice President and GUE/NGL MEP Dimitrios Papadimoulis has described the European Central Bank’s decision to stop accepting Greek bonds as of next week as an “act of coercion”.

He said: “The Greek banking sector remains adequately capitalised and fully covered and the Greek government continues negotiations with European partners to reach a new agreement that will benefit Greek people and all Eurozone countries. The austerity era has come to an end.”

He added: “This is a violent move from the ECB at a time when in Greece the humanitarian crisis has never been more acute and unemployment is at its highest ever levels.”