ECB crisis talks expected as Greece teeters on brink of debt default

[unhappycamper]

http://www.dw.com/en/ecb-crisis-talks-expected-as-greece-teeters-on-brink-of-debt-default/a-18545581

The European Central Bank has scheduled emergency talks as Greece faces what seems an almost inevitable debt default. Amid the crisis, the German deputy chancellor canceled a trip to Israel.

ECB crisis talks expected as Greece teeters on brink of debt default
28.06.2015

The European Central Bank (ECB), one of Greece's three international creditors along with the International Monetary Fund (IMF) and the European Commission, was expected to hold talks on Sunday on whether to extend a crucial financial lifeline to Athens after a bailout package expires on June 30.

The ECB could play a critical role in aiding Greek banks to stay open in the face of massive withdrawals by Greeks who fear that capital controls could be introduced if the country defaults on its debt.

Greece's debt crisis reached a head on Saturday after eurozone finance ministers refused a request from Athens to extend a bailout deal until after a referendum called by Prime Minister Alexander Tsipras.

The Greek parliament voted in favor of the July 5 referendum late on Saturday. Greeks will be asked to vote on whether to accept conditions stipulated by creditors on Friday in exchange for further bailout money - conditions the government itself rejects.

[PoliticAverse]

1. Looks like they're entering the end game. n/t