European Central Bank Governing Council Member Ewald Nowotny: the central bank will not provide with the liquidity the Greek financial system if Greece misses to repay the central bank’s loans on July 20

Market news

7 July 2015

European Central Bank Governing Council Member Ewald Nowotny: the central bank will not provide with the liquidity the Greek financial system if Greece misses to repay the central bank’s loans on July 20

The European Central Bank (ECB) Governing Council Member Ewald Nowotny said in an interview on Monday that the central bank will not provide with the liquidity the Greek financial system if Greece misses to repay the central bank's loans on July 20.

"That would be a state bankruptcy, a default in English," he said.

Nowotny added that a solution should be found as soon as possible.

Greek banks remain closed until July 08

United Kingdom: Manufacturing Production (MoM) , May -0.6% (forecast 0.1%)

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