How vulnerable is the ECB to a Greek default?

The ECB’s exposure to Greece is not huge and ultimately lies with the euro-zone governments that would have to recapitalise it. But a Greek default to the ECB would be a serious blow to the Bank’s credibility that could limit its ability to control inflation or support stressed bond markets in future.


Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.