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Euro-Area Finance Ministers Deny Greece Bailout Extension
European finance chiefs shelved efforts to rescue Greece, turning their focus to containing fallout from a looming financial collapse as Greek savers lined up at local banks and ATMs to pull out as many euros as they could. Meeting in Brussels Saturday evening after rejecting Greece’s request to extend its aid program beyond June 30, the ministers urged the cash-strapped nation to protect its lenders. The European Central Bank, which has kept the nation afloat, is set to discuss Sunday whether to pull the plug on its emergency lending, leaving the country with no backstop. “Monday could be a bank holiday” in ... (full story)
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