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ECB Threatens to Choke Off Funding to Greece Before Election

relates to ECB Threatens to Choke Off Funding to Greece Before Election
Photographer: Simon Dawson/Bloomberg, Photo Illustration by Tom Hall
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The European Central Bank is threatening to choke off funding to Greece’s lenders in the hope it won’t actually need to.

Parliamentary elections on Jan. 25 hinge on whether Greek voters are willing to accept a strings-attached successor to the country’s international bailout package. Under President Mario Draghi, the Frankfurt-based ECB has made its position clear: No program means no guarantee of cash from us.