ECB expanded funding of Greek banks in the framework of the Emergency Liquidity Assistance, which provides aids to the sum of 68 billion 300 million euro. Previously, this value was 65 billion euro.
Although this increase, at first glance, seems insignificant, but financial aid of 3 billion 300 million euro - imperative for Greek banks as they are sorely lacking liquidity.
Every day, customers withdraw their money from the accounts of Greek banks. According to the Financial Times, from 300 to 500 million euro are withdrawn per day. Since December 2014, at least 20 billion euros has been withdrawn – that is more than 10 percent of the total volume of deposits in Greece.
In the next few hours, Athena must send a formal request to the European authorities to extend the program of financial support for the banking sector in the country for another 6 months. However, apparently, this request may be rejected for several reasons.
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