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ECB to pass on bond profits to Greek bailout
EUROPEAN Central Bank (ECB) policymakers said they have no wish to book a profit on Greek sovereign bonds the ECB holds, and gave a green light yesterday for Eurozone member states to pass on the funds to Greece.
Discussion is underway about how the ECB could book those profits up front, to provide an early lump sum for Greece, rather than seeing funds dribble in over years as the bonds mature.
The ECB cannot contribute directly to an second Greek aid package, but board member Joerg Asmussen said it would pass any profits from its bond purchases to central banks in Eurozone states, which governments could then use for Greece.