The EU Commission and European Central Bank are making contingency plans for a possible Greek exit from the euro, an EU commissioner says.

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EU ‘plans for Greek exit option’

Benoit Coueure, from the European Central Bank, has been speaking about their decision to provide a loan of more than a trillion euros to hundreds of banks.

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VIDEO: ECB’s 1-trillion-euro bank rescue

The president of the European Central Bank warned governments that opting for the “easier road” of raising taxes to balance budgets would not solve Europe’s problems.

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European Central Bank Leaves Interest Rate Unchanged

The European Central Bank provides a further 530bn euros ($713bn; £448bn) of low interest loans to 800 banks.

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ECB provides 530bn euros of loans

The European Central Bank said 800 banks snapped up 530 billion euros, or $713 billion, in new three-year loans, more than the last round, easing fears of a credit crunch.

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European Banks Flock to Second Round of Cheap Loans

Economists fear that the loans provided by the European Central Bank simply could be creating the conditions for another banking crisis several years from now.

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Low-Interest Loans to European Banks Prompt Concern

Eurozone banks rush to take out three-year loans offered by the European Central Bank, borrowing 489bn euros.

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Huge demand for ECB’s bank loans

As European Central Bank cuts interest rates.

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Sarkozy: Save the Euro Now

The European Central Bank cuts interest rates back to their historic low of 1%, as expected by financial markets.

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ECB cuts interest rate back to 1%

President of the European Central Bank, Mario Draghi, says downside risks to the eurozone economic outlook have increased.

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ECB warning on ‘downside risks’

Stocks rose after six major central banks, including the Federal Reserve and the European Central Bank, said they had agreed to lower the cost of borrowing dollars for foreign banks.

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Central Banks Take Joint Action to Ease Debt Crisis

The financial stability of Europe has come down to one institution, the European Central Bank, which is under heavy pressure to rescue the euro.

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European Central Bank Resists Calls to Act in Debt Crisis

Former vice-president of the European Central Bank.

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Greece Picks New P.M.

In coordination with the United States Federal Reserve and other central banks, the European Central Bank said it would provide U.S. dollar-based loans to euro area banks.

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E.C.B. Moves to Provide Extra Liquidity

European Central Bank’s chief economist, Juergen Stark, resigns amid reports about disagreements over its bond buying policy.

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Chief economist resigns from ECB