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Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Tuesday, July 7, 2015

ECB keeps tight leash on Greece ahead of euro leaders' summit

By John O'Donnell and George Georgiopoulos FRANKFURT/ATHENS (Reuters) - The European Central Bank (ECB) kept a tight funding grip on Greece's banks on Monday in a move that will see the country's shuttered lenders run out of cash soon. The measure ensures that Greek banks must stay closed for the time being and keeps pressure on Prime Minister Alexis Tsipras a day ahead of a meeting of euro zone leaders in Brussels where he needs to present a new reform plan to try and restart rescue talks for Greece. The ECB also demanded a steeper haircut or discount on the collateral Greek banks offer in return for funding, a largely symbolic step that does not curb banks' access to funds but may serve as a warning to Athens that patience is running thin.


READ THE ORIGINAL POST AT uk.news.yahoo.com