The strains on Greece's financial system are growing day by day. Athens has been given a deadline until the end of this week to agree to prolong its rescue program. In an interview with the "Börsen-Zeitung" Volker Wieland talks about the emergency loans of the European Central Bank (ECB) and the reform policy in the euro area.
According to Volker Wieland a grexit that is the decision of the Greek government to leave the European Union does not seem likely. However, the risk of an "accident" has grown. "The ECB cannot put up with everything," said Volker Wieland. There might occur a situation when the ECB cannot help but stop the Emergency Liquidity Assistance (ELA) if it does not want to lose credibility.
"Die EZB kann nicht alles mit sich machen lassen" (Börsen-Zeitung)