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EU Bank Says No More Help to Greece

As money supply tightens.

cheats/2015/07/06/euro-bank-won-t-up-greek-credit/150706-greece-banks_a6m6gy

Francois Lenoir / Reuters

The European Central Bank said it will not expand credit for Greek banks, despite dire need following the Sunday vote to reject bailout conditions from the European Union. As a result, Greek banks will now stay closed until at least Thursday. Deposits have been sharply limited to prevent a run on the banks. The White House on Monday urged Greece and Europe to compromise and allow the debt-ridden country to remain in the eurozone. The International Monetary Fund, which Greece didn’t pay last month in accordance with previous bailout terms, says it’s “ready to assist.”

Read it at ITV

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