EUROZONE-GREECE-ECB SIGN Euro sign in front of ECB dismantled

Record ID: 148271

  • Title: EUROZONE-GREECE-ECB SIGN Euro sign in front of ECB dismantled
  • Date: 6th July 2015
  • Summary: FRANKFURT, GERMANY (JULY 06, 2015) (REUTERS) EXTERIOR OF EUROPEAN CENTRAL BANK BUILDING IN FRANKFURT PEOPLE WATCHING BUILDING EURO SIGN BEING DISMANTLED CLOSE UP OF WORKERS DISMANTLING STARS TOURISTS TAKING PICTURES CLOSE UP OF STAR BEING DISMANTLED WORKERS DISMANTLING STAR STARS PILLED UP BEFORE EURO SIGN STAR BEING PILLED UP TRUCK / EURO SIGN WORKERS DISMANTLING STAR STA
  • Embargoed: 21st July 2015 13:00
  • Keywords:
  • Location: Germany
  • Country: Germany
  • Topics: General
  • Reuters ID: LVA63RJU49F49NJLNCNCJF11LLS3
  • Aspect Ratio: 16:9
  • Story Text: It's hardly a good sign if the euro symbol in front of the former ECB headquarters is dismantled a day after Greece voted against agreeing to bailout terms.
    Workmen ripped apart the prestigious symbol in front of the European Central bank on Monday (July 6), exposing its internal wiring, and taking off all the stars.
    The symbol is to be reconstructed and reinstalled on Thursday (July 9) - Greece's problems in the eurozone however stand little chance of resolution before then.
    The latest developments in Greece have not made it easier for the European Central Bank to change its stance on emergency funding, ECB Governing Council member Ewald Nowotny said on Monday after a referendum rejected bailout terms.
    The ECB approves the provision of emergency liquidity for Greek banks but froze it one week ago, leading to the imposition of a 60-euro-a-day limit on cash withdrawals and the closure of banks. Its Governing Council talk on Monday about the approval of continued support.
    Nowotny, who also heads Austria's central bank, told ORF radio that he was convinced that what they had done so far was right and conformed with the rules. But he said new decisions had to be made every time and the development in Greece did not make this easier.
    The resignation of Greece's finance minister could make a deal with creditors more likely and avoid the country's exit from the eurozone, analysts said. But Greece's banking system is on the brink of collapse, with estimates its four top banks have less than 1 billion euros of liquidity remaining, and could need nationalizing.
    The euro sign is being renovated on request of the Frankfurt Cultural Committee who own the sign.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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