Jens Weidmann, the president of Germany's Bundesbank, and one of the most influential member of European Central Bank's (ECB) taken hard stance towards Greece, which means Greece is unlikely to receive any more concession from ECB regarding ELA. As a matter of fact, it will only get tougher if Sunday's final deadline is missed.
According to Mr. Weidmann, there remains considerable doubts over solvency of Greek banks, which are nothing but getting worse by the day.
If it was up to him, he would have scrapped €89 billion lifeline for Greek banks, since it is the responsibility of the Greek government and international creditors to resolve problems.
Why Mr. Weidman would like to scrap the ELA?
According to him, Sunday vote declared that majority of Greek have no further appetite for further reforms which would make the banks solvent.
According to Mr. Weidman, Greek government is responsible for current economic chaos and Syriza government in Greece remains an unreliable negotiating partners.
Euro dropped to 1.104 against dollar after trading as high as 1.112.


Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns
World Cup technology: from ref cams to AI analysts, cutting-edge research is changing the game
Silver Cracks Key 365-Day EMA for First Time Since Feb 2024; Bears Eye $50 on Rallies
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says
Gold's 365-Day EMA Streak Since Oct 2023 Faces Its First Real Test at $3,980 — Break or Bounce to $4,140?
Trump’s Iran Strategy: What Has Been Achieved After Three Months of Conflict?
With Iran and the US signing a peace deal, where does that leave Benjamin Netanyahu?
Today’s space race could turn fatal if we don’t agree on new rules
Sell the Bounce": Gold Rally Stalls Near $4165 as Fed Hawks Slam the Door on Rate Cuts — Targets $4000/$3600 



