A report is emerging that the European Central Bank will decide to end its Emergency Liquidity Assistance to Greece. The institution led by Mario Draghi has been increasing the ELA on a weekly basis and lately on a daily basis as Greeks withdrew money from banks.
Without cash from the ECB, and as the Bank of Greece cannot print its own money, the Greek banks could collapse and this could lead to a rapid exit of Greece from the euro-zone. Banks are likely to remain closed in a bank holiday on Monday.
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