The European Central Bank (ECB) yesterday agreed to cede the request of Greece and rise again emergency loans to the country to alleviate the dramatic financial situation facing the Hellenes banks by massive withdrawal of deposits from its customers.
The ECB governing council made the decision at the emergency meeting called to discuss the request of the Greek central bank to increase the “Emergency Liquidity Assistance” (emergency liquidity provision, ALS).
So far the exact amount is unknown. According to earlier reports, the Greek central bank had requested an increase of more than 3,000 million euros.
On Wednesday, the European Central Bank approved an increase in this aid fund by 1,000 million euros, up to 84,100 million euros. In recent months, the body chaired by Mario Draghi has been increasing gradually this emergency aid to the Greeks banks.
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