According to Reuters the European Central Bank (ECB) raised emergency funding for Greek lenders for the third time in less than a week.
The Governing Council increased the cap on Emergency Liquidity Assistance in a telephone conference on Monday, and stands ready to reassess the liquidity of Greek lenders in a new call whenever needed, a banking source revealed.
It is reported that the pre-orders for withdrawals on Monday exceeded 1 billion Euros on Friday. According to our information, the Greek banks had loaded the ATMs with more than 500 million Euros during the weekend in order to meet the demand and avoid any panic that might be caused by empty ATMs. During last week it is estimated that the total net outflows exceeded the 4 billion Euros.
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