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| ECB 'to end Greek bank lifeline' | ECB 'to end Greek bank lifeline' |
| (35 minutes later) | |
| The European Central Bank is expected to end emergency lending to Greece's banks on Sunday, the BBC understands. | |
| The country's banks depend on the ECB's Emergency Liquidity Assistance (ELA). Its governing council is meeting later. | |
| Greece will probably have to "announce a bank holiday on Monday, pending the introduction of capital controls", a source told the BBC's Robert Peston. | |
| The bailout for heavily indebted Greece expires on Tuesday and talks have broken down. | |
| Greek banks would find themselves in serious straits as soon as Monday if the ECB went ahead and cut the lifeline, the BBC economics editor says. | |
| Capital controls are restrictions on how much customers can withdraw from banks. Until now, the Greek government has signalled that it does not want to impose such controls. | |
| In recent weeks, Greeks have withdrawn billions of euros from banks, and long queues formed at cashpoints on Saturday, amid fears that banks would not open on Monday. | |
| The ECB has been sending emergency funds on a daily basis to the Greek central bank, which then allocates it to the high-street banks. | |
| Austria's Finance Minister Hans Jorg Schelling said a Greek exit from the euro now "appears almost inevitable". |