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Friday, June 19, 2015

Greek crisis: Emergency meetings as bank fears grow

European Central Bank to decide whether to extend more emergency liquidity to the Greek banking sector to avert a bank runIntroduction: Crisis ratchets up another notchECB meeting at 11am BSTTsipras: We will get a deal 8.05am BST Greece’s prime minister has welcomed the decision to call an emergency summit on Monday night. “Τhe (euro zone) leaders summit on Monday is a positive development on the road toward a deal.“All those who are betting on crisis and terror scenarios will be proven wrong.Greek PM Tsipras: Euro Summit On Greece Is Positive Development -- RTRS -Those Betting On Crisis Will Be Proven Wrong 8.01am BST These charts show how Greek deposit levels have fallen steadily this year, prompting the ECB to steadily provide more and more emergency liquidity.#ECB said to plan Emergency Greek aid call amid bank run http://t.co/WBWgadIU77 #Greece #Grexit pic.twitter.com/7j08e5HIbH 7.53am BST Greek newspaper Kathimerini reports that the Bank of Greece has asked the ECB for another €3.5bn of emergency funding, to handle the deposit flight.It also says that €1.2bn was taken out of banks on Thursday, on top of the €2bn between Monday and Wednesday. 7.47am BST Today’s ECB session comes just two days after it extended another €1.1bn of emergency liquidity to the Greek banking sector. But the fear is that funds are leaving banks faster than the ECB can put them in. #grexit ecb put up 1bn+ in ELA on weds, looks like more today. stopping or starting a #bankrun?@traynorbrussels @graemewearden After Coeure's alleged remarks I would say fuelling, since it has already started 7.35am BST The AFP newswire has more details of the European Central Bank’s emergency meeting: The European Central Bank’s decision-making governing council will hold an emergency session Friday to discuss a request from the Bank of Greece for an increase in liquidity to Greek banks, sources familiar with the matter told AFP.The council will hold a teleconference at around midday (1000 GMT) to discuss a possible increase in the Emergency Liquidity Assistance facility, as deposit withdrawals from Greek banks have accelerated in recent days, sources said, speaking on condition of anonymity. An ECB spokesman declined to comment. 7.29am BST Good morning.More than five years after it began, Greece’s debt crisis is rattling towards a climax after finance ministers failed to make any progress towards a deal last night. Related: Greece faces banking crisis after eurozone meeting breaks down #grexit top eurogroup participant tells @guardian timing of Monday summit to do with fear of bank run/collapsePhotos: Pro-EU demo in Athens tonight after dramatic day http://t.co/KDLYWrujY7 pic.twitter.com/K0ENgXg1RrThis morning starts with four breakfast meetings: hotel, @EPP, #EIB and #Ecofin.I've woken up this morning to the realisation that I'm still in #Luxembourg.Guardian front page, Friday 19 June 2015: Fears over Greek banks as talks collapse in acrimony pic.twitter.com/EPSD5JX8ZXFriday's FT front page: EU calls crisis summit after Athens bailout talks collapse #tomorrowspaperstoday #bbcpapers pic.twitter.com/IA3q30tBRxFriday's Times front page: Greek banks on brink of collapse as savers panic #tomorrowspaperstoday #bbcpapers pic.twitter.com/SdS1OylzP2 Continue reading...


READ THE ORIGINAL POST AT www.theguardian.com