The Latest: European Central Bank Faces Decision on Greece

June 28, 2015 10:52 AM

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It has been allowing Greek banks to draw emergency credit from Greece's central bank, a financial lifeline that has been keeping Greece's four major banks going during the country's tense bailout negotiations with creditors. The ECB has been slowly increasing the emergency credit to compensate for the increase in withdrawals from Greek banks.

But the ECB has said it can only continue such assistance if the banks are basically solvent. A failure by Greece's government to get more aid before its bailout ends Tuesday and a big payment to the International Monetary Fund is due could prompt the ECB to decide the Greek banks are not financiall...

Also read: Russian Central Bank: Hackers Stole $31 Million From Correspondent Accounts

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