ECONOMY

ECB green lights up to 60 bn euros in emergency funds for Greek banks, source says

The European Central Bank has given the green light to make up to 60 billion euros ($68.5 billion) in emergency liquidity available to Greek banks, a source close to a national central bank told AFP on Thursday.

The day before, the ECB had effectively shut off Greek banks from a different channel of financing by saying it would no longer accept Greek sovereign bonds as collateral for loans in its normal refinancing operations.

[AFP]