No plans for immediate Eurogroup meeting after Greek vote-EU official

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10. Greek banks desperate for emergency loans after voters reject bailout

Greek Prime Minister Alexis Tsipras’s stunning referendum victory may come at the cost of the country’s banks.

The No result in Sunday’s vote, signalling rejection of the creditors’ loans-for-austerity demands, was the nightmare scenario for the banks, whose leaders and shareholders had been lobbying hard for a Yes vote – acceptance of the creditors’ demands.

The governor of the Bank of Greece, Yannis Stournaras, was to call Mario Draghi Sunday evening to try to convince the ECB president to pump more emergency loans into the Greek banks. The ECB’s governing council is to meet in Frankfurt on Monday to decide if the banks will get that assistance.

If more emergency loans are to come, they would have to come fast.

http://www.theglobeandmail.com/report-on-business/international-business/greek-banks-desperate-for-emergency-loans-after-voters-reject-bailout/article25308556/