ECONOMY

ECB agrees extra emergency funding for Greek banks

ECB agrees extra emergency funding for Greek banks

Greek banks will be allowed to draw down more emergency funding, the European Central Bank decided on Thursday, increasing it by 900 million euros for one week.

At a news conference, ECB President Mario Draghi said the conditions had been restored for more Emergency Liquidity Assistance (ELA) after a bailout plan was agreed between Athens and the eurozone.

"Things have changed now. We had a series of news with the approval of the bridge financing package, with the votes, various votes in various parliaments, which have now restored the conditions for a raise in ELA," he said.

[Reuters]

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