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ECB tells Greek banks to rein in on state debt

From marketwatch.com

The European Central Bank has instructed Greece's biggest banks to refrain from increasing their exposure to Greek government debt, according to people familiar with the matter. The move raises pressure on the cash-strapped government in Athens to find an agreement with its international creditors to unlock billions of euros in bailout funds. The new restriction from the ECB's bank supervisors, which was approved by the central bank's governing council, was conveyed to the Greek banks in a letter on Tuesday. It is in line with recent policies undertaken by the ECB to restrict the amount of funding the Greek ... (full story)

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