Volker Wieland regarding the situation in Greece ("Tagesschau")

The concerns on Greece are growing. Only on one day, the Greeks withdrew more than 1.2 billion euros from their accounts. Is this leading to a bank run? The Greek banks depend on the Emergency Liqudity Assistance (ELA) funding of the European Central Bank (ECB).

If the ECB did not boost the ELA, it would pull the plug, Professor Volker Wieland explained in a TV interview with the "Tagesschau". Clients could not withdraw their money and the banks would have to close. Hence, the ECB apparently would trigger the crisis.