Displaying items by tag: ecb

Cypriot President Nicos Anastasiades spoke with German Chancellor Angela Merkel, concerning the economic turmoil in Greece.

Leading European financiers have urged Greece to reach a conclusion with its international lenders, cautioning that the nation's banks might not attain additional liquidity, if a deal is not reached soon.

According to the Financial Times, the European Central Bank has decided to make it illegal for Greek banks to add to their holdings of short-term government debt “in a move that effectively cuts off a key source of funding for Athens and heightens the risk of a sovereign default.”