European Central Bank greenlights ELA application for Greek banks

FILE - In this Sept. 2, 2009 file picture the Euro sculpture is see in front of the European Central Bank ECB in Frankfurt, central Germany. Alarmed by the risk to the euro, the European Central Bank exercised what analysts called its "nuclear option" early Monday May 10, 2010 , announcing it would intervene in bond markets as part of the wider effort to protect the eurozone. The central bank for the 16 countries that use the euro said its move was designed "to ensure depth and liquidity in those market segments which are dysfunctional." The announcement was part of a decision by the European Union and International Monetary, who pledged nearly US dlrs 1 trillion to defend the euro and the eurozone. (AP Photo/Michael Probst, File)