* * * In its most recent policy meeting, the ECB’s Governing Council decided on a comprehensive easing package because the downward revisions in the projected inflation path warranted a vigorous policy response.
•  The country then will be getting the “certificate” of the DSA, which will open the door to credit rating upgrades for Greek sovereign bonds, bringing closer the date of Greece’s inclusion into the ECB’s QE programme which will help towards a lowering of spreads for GGBs and the gradual return to international capital markets.