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ECB raises emergency funding cap to Greek banks to 68.3 bln euros - source
The European Central Bank agreed on Wednesday to raise the emergency funding available to Greek banks to 68.3 billion euros ($78 billion), a slight increase on the previous limit, a person familiar with the ECB talks said. The rise in the provision of Emergency Liquidity Assistance (ELA), over which the ECB has control, is critical for Greece's banks, and gives Athens some leeway while it tries to negotiate a financing deal with European partners. The ECB had already raised the ELA available to Greek banks by 5 billion euros to about 65 billion last Thursday. The new cap is roughly 3.3 billion euros higher. The ... (full story)
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