Greece's cash-flow crisis

Following Greece’s cash-flow crisis is a confusing business.

To give one example; on one day last week newspaper headlines shouted that the European Central Bank had agreed to increase its emergency lending to Greek banks. The next morning, they were filled with reports that the ECB had tightened its rules on lending to Greece, leaving the country just a couple of short weeks away from running out of money.

The fact that both stories were true illustrates what an unholy, complica...