- Greek Bank Shares Slide to Record Low as ECB Considers Pulling the Plug!
by Mehreen Khan, http://www.telegraph.co.uk/
European Central Bank draws up plans to limit emergency assistance as Alexis Tsipras gears up to meet Chancellor Merkel.
Shares in Greece’s stricken banks fell to an all-time low on Tuesday amid fears the European Central Bank was planning to finally pull the plug on the country’s lenders.
Banks stocks fell by 4pc on the news that ECB staff had drawn up a memo which proposed limiting the emergency assistance (ELA) that has been keeping lenders alive since the Syriza-led government entered office at the end of January.
Tuesday’s trading helped cap off a torrid run which has seen more than 50pc wiped off the value of Greece’s lenders since the start of the year.