Can you quote the specific legislation that gave the ECB power to withdraw liquidity from all the greek banks like it did? You can't. There is none. Just as there is no investigation point to bank fraud with those banks, much less a proper judicial or regulatory decision. The EU has no constitution, it is not a state. It has a set of treaties, which it pompously calls its "legislation" (forgetting that laws are the sole province of states, but alas that peculiar delusion predates the EU). And no EU treaty, even now, forbids a default, which was the situation at the time. Which bailout terms were those, which violations were involved in the ECB's decision at the time, and which laws were invoked? Do you want the list of EU states that are "illegal" per the EU's own "legislation"? I want you, it is quite long. In fact I believe the Euro would be defunct immediately were the ECB to withdraw liquidity from banks in all the countries with public debt above 60%, the magic number someone pulled out of thin air into a treaty long ago. The classification of the "grade" of collateral used by the ECB in its rules has been changed several timers according to political conveniences. There is nothing technical abut it, it is and has always been a political tool.