But this would involve loosening its collateral conditions and exposing the central banks to greater and greater risk.

ECONOMIST: How much do Greece and the rest of Europe stand to lose?

This would help Greece avoid a funding squeeze and would come perhaps at the cost of conditions floated last week including a higher coupon rate at rollover and collateral to be held by the debt holder.

FORBES: Dollar Selling Climbs After Trichet Accepts Rollover Plan