ECB rejects ELA ceiling increase for Greek banks

FXStreet (Córdoba) – According to media reports, Greece had requested the European Central Bank to increase the Emergency Liquidity Assistance (ELA) ceiling for Greek banks by €6 billion but it was rejected.

That leaves emergency funding for Greek institutions at € 89 billion until the referendum.

Greek banks are closed this week as Athens imposes capital controls unable to face increasing withdraws after negotiations with the Eurogroup broke down last Saturday when the Greek government called a referendum on the bailout program.

Media is reporting the a Greek government official saying Greek pension withdrawals to be limited to €240.

According to media reports, Greece had requested the European Central Bank to increase the Emergency Liquidity Assistance (ELA) ceiling for Greek banks by €6 billion but it was rejected.

(Market News Provided by FXstreet)