ECB will not increase liquidity lifeline to Greek banks

The European Central Bank’s governing council today decided not to increase the liquidity lifeline to cash-strapped Greek banks, a Greek banking source said.

The bank is “ready to intervene as and when necessary,” the source said, adding that “no other decision was taken” at the ECB meeting.

It was the ECB’s decision on Sunday to refuse to increase emergency funding for Greek banks that pushed Athens to close lenders and impose the capital controls.