Greek Banks Count on More ECB Cash as Bailout Talks Drag On
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The European Central Bank is set to discuss an additional emergency cash injection for Greek lenders Wednesday as the country’s bonds and stocks rebounded this week on optimism that a deal with creditors is within reach.
Euro-area central bank governors will hold their regular weekly call Wednesday to review the liquidity situation of Greece’s lenders amid accelerating deposit outflows. Having lost access to capital markets and being ineligible for the ECB’s regular financing operations while the bailout review remains stalled, Greece’s lenders are hanging by an EBB-approved Bank of Greece Emergency Liquidity Assistance thread to stay afloat.