Greek Banks and European Central Bank

European Central Bank: The ECB move puts an immediate squeeze on Greek banks that will have to meet some of their funding needs at 1.55% interest under the Emergency Liquidity Assistance program versus the 0.05% normal refinancing rate. How significant this will.., according to Wall Street Journal and The Athens stock market fell as much as 9% on Thursday after the European Central Bank s announcement late Wednesday that it will not accept Greek government bonds as collateral until Athens reaches an agreement with its creditors. Investors appear to be shocked a deal remains elusive. (news.financializer.com). As reported in the news.