Don't Make Us Do It: ECB Wants a Political Deal on Greece
Alexis Tsipras, Greece's prime minister, arrives for a European Union leaders summit in Brussels on Feb. 12.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
The European Central Bank is sending a message to the euro-area’s leaders: don’t make us pull the trigger on Greece’s banks.
After the Frankfurt-based ECB blessed the expansion of so-called Emergency Liquidity Assistance to the debt-stricken country’s lenders by about 5 billion euros ($5.7 billion) on Thursday, officials are insisting that continued support is contingent on political talks over Greece’s bailout. Greek stocks and bonds rallied Friday, after Prime Minister Alexis Tsipras hinted at progress.