YEREVAN, February 6. /ARKA/. The European Central Bank will allow the Greek central bank to provide as much as 59.5 billion euros ($68 billion) in emergency funding for the country’s lenders, a euro-area central-bank official familiar with the decision said, Bloomberg reports.
The measure is needed after the ECB shut off a key avenue for Greek banks’ funding on Wednesday, citing doubts that the country’s newly elected government will conclude its aid program. Greek stocks and bonds fell on Thursday after the ECB’s decision to end a waiver on the quality of Greek debt it accepts as collateral. –0–
