Volker Wieland on the debate about Greece's international bailouts (Reuters)

Before the meeting of the Eurogroup of Finance Minister on Monday in Brussels it is not sure whether there will be an agreement on debt management and financing.

Greece is running out of time. The existing bailout program ends on February 28. "If the Greek government says 'we are not paying our debts', then the banks are actually insolvent, because they hold a lot of Greek sovereign bonds," said Volker Wieland to Reuters. Denying Greek banks the Emergency Liquidity Assistance (ELA) "would be a way to bring Greece to an agreement quickly," said Wieland.

Reuters: "Bank funding powers make Greece vulnerable to ECB pressure"
(also Daily Mail online)