Those wondering if Draghi would be so bold as to precipitate a Greek bank run and funding crisis by yanking the country's Emergency Liquidity Assistance program, which as of two weeks ago was boosted to €65 billion, now have an answer. According to Dow Jones, the ECB just boosted the Greek cash allottment to €68.3 billion, an increase of €3.3 billion:
- ECB SAID TO OK CONT. EMERGENCY LIQUIDITY FOR GREEK BANKS:
- ECB SAID TO OK ELA FOR GREEK BANKS OF EUR68.3B FOR 2 WKS: WSJ
Which means that the cat and mouse game between Greece and Europe will continue for at least one more week, because that's when [4], according to Kathimerini's Greek sources, the nation runs out of state cash which will have the same impact on the Greek negotiating leverage as a full-blown bank run, which of course has still not been mitigated and in factis likely only to get worse in the coming days absent a deal of some sort.
In retrospect, Draghi may not have had to do anything to accelerate the resolution in the Europe vs Greece standoff: it looks like Greece did that work for him.