EU boost for local economy

Greece secured two vital sources of liquidity from the European Union on Thursday that will help it to rebound next year: the extension of the European Central Bank's extraordinary bond-buying program (PEPP) and the unblocking of the Next Generation EU fund following the agreement of the majority of EU states with Hungary and Poland.

Frankfurt has expanded its program against the pandemic's impact by another 500 billion euros to reach €1.85 trillion and extended its application for another nine months - i.e. until March 2022. Furthermore, reinvestments will continue until at least the end of 2023.

For Greece, the quantitative easing measures that have applied since last April and which allow its bonds to be accepted as collateral despite their "junk" status will be extended until June 2022. Still, when asked on Thursday what will happen with the Greek bonds once the...