Draghi Can’t Avoid Spotlight With Greek Destiny in ECB Hands

Mario Draghi might not like it, but he now has the fate of Greece in his hands.

With finance ministers rejecting a Greek request for a bailout extension to cover a referendum, debt payments looming, and bank customers lining up to pull money out, the European Central Bank president must decide how to react. The Governing Council, which is due to meet “in due course,” according to the ECB, faces the dilemma of cutting support for the Greek financial system and courting accusations of political meddling, or pouring more cash in and risking the credibility of the euro.