The ECB is cutting off credit to banks want to pledge Greek bonds.

I wonder if it applies to French and German banks that have already parked their Greek bonds with the ECB.


http://www.reuters.com/article/2012/02/2....

ECB edict leaves Greek banks reliant on emergency aid

(Reuters) - The European Central Bank announced on Tuesday it would no longer allow borrowing against Greek government bonds, a temporary move that will force Greek lenders to turn to their national central bank for emergency funding.