The European Central Bank did not raise the limit of emergency lending assistance (ELA) funds available to Greek credit institutions because it deemed the conditions no longer met.
Austrian adviser and central banker Ewald Nowotny told Reuters, adding that a possible extension of the credit line of the assistance program will be discussed at the board meeting the day after tomorrow in Frankfurt.
“We have another board meeting on Wednesday where the issue is already on the agenda. I have nothing to anticipate… at the moment the ball is in Greece's hands”.
Still with regard to the situation created after the failure of the negotiations between Athens and the international creditors, Nowotny says he is convinced that the majority of Greek citizens are in favor of remaining within the monetary union.
“I assume the majority of Greeks want to stay in the euro zone, so I believe there are the conditions to start with a new negotiation, however many points of uncertainty remain” he concludes.
