He already sees a problem if Greek banks extend T-bills, i.e. perform a “rollover”. Is he right or is he too strict? The ECB’s Governing Council has not yet reached a conclusive opinion on that matter.
In particular, exports to China as well as the NIEs and the ASEAN economies have been rapidly increasing recently, and real exports for November 2017 reached record high levels, exceeding those seen before the global financial crisis. Production has also been on an uptrend on the back of a rise in demand both at home and abroad.