Greece debt crisis: ECB 'to end' bank emergency lending

tl;dr ECB has leaked to BBC they will cut off emergency lending that covers the panic withdrawals. This will kill the deal and force a grexit, even before 5 July referendum. However French PM does not think they have enough independence to do that.

So we have a democratic nation potentially forced to leave Euro, after democratically deciding it no longer wants the austerity imposed, being forced to leave by non democratic ECB while the democracies that appoint the ECB think it is going too far.

What's that quote from Hunt For Red October - "with all these planes in the sky, it's only a matter of time [before we start a war]"

The lesson for democracy - force governments who are going to adjust fiscal measures past a certain point to get referendum approval

- and look how well that works in California...

As I understand it, one of the major underlying issues this whole time (aside from the silliness of trying to integrate Greece's economy with Germany's) was the ECB's refusal to act as the lender of last resort. This seems like an affirmation of that.

If Greece exits the Euro, I wonder if that will embolden other countries to do the same.

Gambling addict? What an incredibly unfair and childish characterisation.

Greece is not a person, Greece is a nation state. It has implemented severe fiscal cutbacks after being forced to by its creditors. Cutbacks which have ruined the country's economy, massively increased poverty, and made it more difficult to pay back its debts.

Now its people have voted in a government that wishes to make different reforms. Ones that also keep the book balanced, but do not hurt the weakest in society as much or destroy economic productivity.

If they leave and manage to kick-start the economy that i doubt very much they will manage to do, yes other countries will start to wonder, the next in line is Portugal with the highest speeding in % of GDP of government debt in Europe.

I think the ECB is actually not allowed to do that, because Europe (better: The countries of the Euro Zone) is not a debt union. If the Countries were paying for each other regardless of structural reforms, Europe would need to be constructed in a different way (with an actual central government).

To address your other point: I think the horrible situation that will arise in Greece in the following weeks/months will make other countries certainly think twice about getting out of the Euro.