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ATHENS – Losing 28 billion euros in withdrawals in the last six months by nervous depositors, Greek banks are getting another 700 billion euros in emergency liquidity from the European Central Bank.

The banks lost three billion euros in March alone with customers fearful the government’s negotiations with international lenders will fail and take the country out of the Eurozone and back to the drachma.

The ECB decided to raise the 71.1-billion-euro limit that Greek lenders can tap in emergency liquidity assistance (ELA) via the Bank of Greece to 71.8 billion euros.

 

The post ECB Gives Greek Banks Lifeline appeared first on The National Herald.

Source: The National Herald
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