Greek banks will not be getting any more help from the European Central Bank. In an announcement on Monday afternoon, the ECB announced that it would keep its emergency Liqudity assistance, or ELA, to Greece unchanged at levels announced last Monday. That level is believed to be around €89 billion. The problem for Greek banks, as it stands, is that it looks like they are quickly running out of cash, and unless the ECB releases more money to them, the prospect of Greek banks re-opening for full use appears uncertain at best. Also of note is that the ECB said that it will adjust the haircuts on collateral accepted by ... (full story)