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To: DebtBomb who wrote (270156)	8/20/2010 6:02:08 AM
From: Giordano Bruno	Read Replies (1) \| Respond to of 306849

Greek crisis refuses to go away Simon Ward from Henderson Global Investors said Greek lenders are covering their funding gap through loans from the European Central Bank (ECB), which reached a record €96bn in July. "The question is how much eligible collateral they have left to take to the ECB. It must be nearing the limits," he said. "What is worrying is that this is not just Greeks. Portuguese banks borrowed €50bn in July compared to €41.5bn in June. Together with Ireland and Spain they have borrowed €387bn from the ECB," he said. "The entire country is in the grip of a depression," said Speigel. "Everything seems to be going downhill. The spiral is continuing unabated and there is no clear way out." telegraph.co.uk youtube.com