ECONOMY

ECB leaves stopgap funding for Greek banks unchanged

ECB leaves stopgap funding for Greek banks unchanged

The European Central Bank decided Wednesday to leave its emergency credit lifeline for Greece unchanged for the next two weeks, said a source close to the matter who asked not to be identified.

The Frankfurt-based bank last month boosted its Emergency Liquidity Assistance (ELA) for Greece's struggling banks by 900 million euros ($980 million) to 90.4 billion euros, Bloomberg News reported, after Athens and its creditors reached an in-principle agreement for a third bailout in return for tough reforms.

A source said Wednesday the ECB's executive board had agreed the level of support would remain steady for another two weeks although the ECB declined to comment.

[AFP]

Banking Euro Finance

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.

READ MORE
Greek banks weigh down stocks as bailout talks grind on
ECONOMY

Greek banks weigh down stocks as bailout talks grind on

BlackRock buys Greek debt seeing peers too pessimistic on prices
ECONOMY

BlackRock buys Greek debt seeing peers too pessimistic on prices

Citizens queue for cash as VAT on range of products soars
ECONOMY

Citizens queue for cash as VAT on range of products soars

Greek banks losing half in value send stocks down for third day
ECONOMY

Greek banks losing half in value send stocks down for third day

Greek bank deposits rise as capital raisings near, official says
ECONOMY

Greek bank deposits rise as capital raisings near, official says

Greece unlikely to ask for more ECB liquidity for weeks
ECONOMY

Greece unlikely to ask for more ECB liquidity for weeks