ECONOMY

ECB expected to raise ELA limit on Thursday, banks may open from Monday

ecb-expected-to-raise-ela-limit-on-thursday-banks-may-open-from-monday

The European Central Bank is expected to leave the level of the emergency liquidity assistance to Greek banks unchanged on Wednesday ahead of the parliamentary vote on the measures promised by Athens to its creditors.

Although local bank officials do not rule out a goodwill gesture on Wednesday, it is likely the ELA limit will go up on Thursday, after the measures have been passed.

Banks also expect their holiday to be extended from Thursday, saying they could be allowed to reopen from July 20.

Economy Minister Giorgos Stathakis said on Tuesday that banks will open once the new agreement is ratified by the parliaments in Greece, Germany and other EU countries.