ECB raises emergency funding cap for Greek banks

Author: Mike Paterson | Category: Central Banks

Reuters sources reporting

Euro stages a relief rally on the news which at least keeps the banks going for another day given that the ELA is essential to their survival right now

Govt sources estimate the cap was raised by €1.1bln to €84.1bln on 17 June and a further €1.8bln on Friday

  • ECB governing council ready to convene again by teleconference any time it's needed

EURUSD 1.1334 EURGBP 0.7147 from 1.1315/0.7138

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