The Greek banks owe ECB 89 billion EUR from ELA. ECB can just punt on this while "talks" take place between EU and Greece. The next real deadline is July 20th when Greek government has to redeem 3.5 billion EUR worth of bonds held by the ECB. A missed payment to the ECB may be the tipping point for the banking system. The eurogroup may present Tsipras with an ultimatum: immediately sign a preliminary agreement, in order to reopen the banks, or let the banking system fail. Perhaps Tsipras can call a referendum on that ultimatum ?
Way too optimistic. The Greek banks cannot reopen without additional ELA funds, which means if the ECB does not raise the limit(and legally they should call in the the entire loan) the banks cannot repopen at all. In fact, they will not even be able to meet the 60 Euro quota after tomorrow. Repeat, it is against EU law for the ELA to raise that limit again.
