More on the ECB/Greek bank story: The ECB move to stop assistance to several (it appears 4)...

|By:, SA News Editor

More on the ECB/Greek bank story: The ECB move to stop assistance to several (it appears 4) Greek banks is the result of their capital balances turning red. Under ECB rules, it cannot lend to such banks, who must instead borrow through the Bank of Greece (which, in essence, borrows from the ECB). No one is being cut off.