Greece may see its emergency funding capped as reports emerge that European Central Bank governers are considering how to manage an imminent default.
Banks in Greece have been kept afloat by the ECB's emergency liquidity assistance or ELA mechanism since negotiations began to extend Greece's bailout.
Banks in Greece have been kept afloat by the ECB's emergency liquidity assistance or ELA mechanism since negotiations began to extend Greece's bailout.
Greece's current bailout expires on Tuesday but talks with Eurozone finance ministers have broken down.
Eurozone finance ministers have been drawing up contingency plans, as Athens prepares to hold a referendum next week on the terms of a bailout deal which Prime Minister Alexis Tsipras has labeled unfair.
Our Europe correspondent in Brussels Sandra Gathmann says Greek banks may not open on Monday.
IN: "The ECB..."
OUT: "...Monday."
TIME: 30 Seconds
CLIP: http://www.fsnradionews.com/feeds/0627ecb-sg-clip1.mp3
Eurozone finance ministers have been drawing up contingency plans, as Athens prepares to hold a referendum next week on the terms of a bailout deal which Prime Minister Alexis Tsipras has labeled unfair.
Our Europe correspondent in Brussels Sandra Gathmann says Greek banks may not open on Monday.
IN: "The ECB..."
OUT: "...Monday."
TIME: 30 Seconds
CLIP: http://www.fsnradionews.com/feeds/0627ecb-sg-clip1.mp3