Esma to meet with clearing industry over EU energy crisis
Widening eligible collateral on table; ECB intervention would need government indemnities
The European Securities and Markets Authority (Esma) is due to meet with clearing house representatives this week to discuss potential ways to ease the pressure of sky-high collateral requirements on energy market participants.
Russian state-owned energy firm Gazprom has indefinitely halted all natural gas supplies through the Nord Stream 1 pipeline to Germany, prompting fears of a full-blown European energy crisis.
“If this pace keeps up, the utility bailout will be a lot larger than the bank
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