The European Central Bank wants to end arms Greek banks granting them for months emergency assistance, the “ELA” credits.
The European Central Bank (ECB) is more than ever the center of the financial game and in the Greek political psychodrama. Displease by its president Mario Draghi that attempts to reduce the political role of the monetary institution. Without access to capital markets and private international aid since 1 July, failing agreement with creditors, Greece has more than the ECB to finance its economy is sinking every day a little more in the recession.
The central bank holds at arm Greek banks granting them for months emergency assistance, credits “ELA” by their acronym. Which banks supply the state coffers by buying short-term bonds emitted by the Treasury and that no one else wants
massive withdrawals of cash.
The Board of Governors -. That groups ten -nine countries in the euro area more than six permanent members – would meet in late Wednesday to approve this aid …