Greece debt crisis: ECB 'to end' bank emergency lending - Polidicks

[QUOTE]The European Central Bank is expected to end emergency lending to Greece's banks on Sunday, the BBC understands. Well-placed sources told BBC economics editor Robert Peston a decision to end the Emergency Liquidity Assistance (ELA) would be made by the ECB's governing council later on Sunday. Greek banks depend on ELA. [...] Greece will probably have to "announce a bank holiday on Monday, pending the introduction of capital controls", our economics editor says. The bailout for heavily indebted Greece expires on Tuesday and talks have broken down. Greek banks would find themselves in serious straits as soon as Monday if the ECB went ahead and cut the lifeline, our economics editor says. [...] A withdrawal from the euro - known as "Grexit" - is not inevitable, says our editor, as the eurozone did resolve Cyprus's banking crisis in 2013 and the country stayed in the euro. Capital controls were imposed on Cypriot banks, and remained in place for a long time - the last restrictions were only lifted in April this year. Greece's situation is more difficult, Robert Peston reports. Capital controls are seen as an important step towards leaving the euro, because the single currency's rules require free movement of capital. But Greece could remain in if its government and the bailout providers - the EU and IMF - can restart constructive negotiations, he reports.[/QUOTE] [url=http://www.bbc.co.uk/news/world-europe-33303105]BBC[/url]

They voted to continue in the end - just decided not to increase it [url]http://www.bbc.co.uk/news/world-europe-33304674[/url]

Fina--- [QUOTE=Drakehawke;48070964]They voted to continue in the end - just decided not to increase it [url]http://www.bbc.co.uk/news/world-europe-33304674[/url][/QUOTE] ---cking retards! Why!

[QUOTE=Dark RaveN;48071073]Fina--- ---cking retards! Why![/QUOTE] To piss people like you off

I'm still trying to figure out why anyone was still leading them money for the last few years.

[QUOTE=download;48071362]I'm still trying to figure out why anyone was still leading them money for the last few years.[/QUOTE] -I tried to pasto an article but my phone keyboard brokebroke-

[QUOTE=download;48071362]I'm still trying to figure out why anyone was still leading them money for the last few years.[/QUOTE] Trying to prevent the inevitable. If Greece defaults any more then it already has, it'll send a shock-wave across the entirety of the EU. It would most likely lead to countries like Spain, Portugal, and Ireland feeling the ripple and most likely head down the same route. In the end it'd lead to a loss of trust in the Euro, and most likely lead several countries to abandon it, and return to their older currencies. If this is to happen, the only thing which would truly save the European Union from a depression of sorts would be either federalization or have it so all government finances are handled directly by the European Bank.

EU is doomed unless it is united under one state, the differences in culture is to broad for it to work. We can see that very clearly in southern EU .

It's going to be quite the rollercoaster this week.

[QUOTE=snake bite;48073924]EU is doomed unless it is united under one state, the differences in culture is to broad for it to work. We can see that very clearly in southern EU .[/QUOTE] Well, then, it's simple We [del]kill the batman.[/del] should kick them all out if they aren't gonna unite with us. At this point, IMO it should be "with us or against us"