MOSCOW (Sputnik) — Through its Emergency Liquidity Assistance facility, the ECB continued to maintain the liquidity of Greek banks in the light of the country's financial crisis.
"It needs to be crystal clear that responsibility for further developments in Greece and for any decisions on transferring financial resources lies with the Greek government and the countries providing assistance, not the ECB governing council," Weidmann said as quoted by The Local.
According to Weidmann, central banks of EU countries must "show where their limits lie."
"The Eurosystem (European system of central banks) should not increase the liquidity provision, and capital controls need to stay in force until an appropriate support package has been agreed by all parties and the solvency of both the Greek government and the Greek banking system has been ensured."
Greece's overall debt stands at about $350 billion, of which $270 billion is owed to the European Central Bank, the International Monetary Fund and some Eurozone countries.
On Sunday, over 61 percent of the Greek public voted "no" in a referendum on whether the country should accept creditor demands for spending cuts and tax increases in exchange for another loan, triggering renewed speculation about Greece’s possible exit from the Eurozone.
