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ECB ready to implement non-standard measures in case of Grexit: Hansson
[TALLINN] The European Central Bank is ready to implement a range of policy measures in case Greece leaves the euro zone, European Central Bank Governing Council member Ardo Hansson told an Estonian newspaper on Thursday. "We are forced to deal with this possibility more and more because the probability of such a scenario has, unfortunately, increased over time," Mr Hansson, who is also Estonian central bank governor, told daily Postimees. "We can use a wide range of non-standard monetary policy measures and close cooperation with other central banks. We are prepared to implement these capabilities if needed," he said.
Mr Hansson said that Grexit was not desirable but it would be a mistake to avoid it at all cost and Greece should not be given a blank cheque because that would undermine the foundations of the common currency.
Read more on the Greek crisis here.