The European Central bank will be accepting Greek bonds after it returned the waiver status during its Wednesday board meeting. The ECB’s announcement stated Greek bonds will be accepted from June 29, while it also left the prospect of them being accepted in the quantitative easing program open in the future. This means the Greek banks will have access to cheap money to cover their capital needs. Until now Greek banks borrowed 66bln Euros at 1.55 per cent interest rate from the ELA, while now the interest rate will be 0.05per cent from the ECB.