The European Central Bank capped the amount of emergency funding it is providing to the Greek banking sector at €88.6 billion on Wednesday, in a sign that the central bank is awaiting the outcome of this weekend’s crunch talks on Greece before deciding whether to extend a further financial lifeline to the indebted country.
Moody's Ratings agency announced it has downgraded the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) from Aaa to Aa1, with negative outlook on each.
Germany's Constitutional Court rejected on Tuesday an attempt to further delay a ruling on the European Stability Mechanism (ESM) and fiscal compact, which had previously been pushed back by months while the judges reviewed whether the German parliament is permitted under the constitution to ratify the treaties.