The European Central Bank (ECB) on Friday raised the ceiling of emergency liquidity assistance (ELA) provided to Greek banks.
Despite yesterday’s dismissal, the Bank of Greece was forced to ask in an emergency teleconference on Friday the increase of the ELA in order to counterbalance large bank deposit outflows.
According to bankers’ estimates, deposit outflows reached 2 billion euros over the past two days.
ELA was increased, according to sources, by 3.3 billion euros, which is considered sufficient in order to meet the banks’ liquidity needs. The ECB’s governing council expressed the hope that Monday’s summit will end to an agreement.
(source: ana-mpa)
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
