A banking source has told Reuters that on Friday, the European Central Bank will have a conference call with commercial banks to collect views on the status of money markets in reference to the Greek debt catastrophe.

However, the meeting is not a premeditated, routine call. The ECB commonly calls such meetings with banks to get opinion on money market situations.

The source told Reuters, "Yes, there is a call later, but this is not that unusual, these kind of calls go on a lot. The ECB is just asking banks directly what they are seeing in money markets".

The ECB refused to comment.

The terror of a Greek default has restarted anxieties regarding the Euro zone banking system. Since long, Banks have ceased lending to their Greek equivalents owing to Greece's debt problems, but French and German banks' huge contact to Greek sovereign and company arrears has fueled extensive fears.

According to statistics, the cost of covering European banks against default has also been mounting.

Last week, money market traders uttered surprise, when at least one bank was ready to pay 1.5%, well over the 1.0% preliminary cost for ECB three-month funds.