ECB Spares Greece for Now as Schaeuble Seeks Substance on Plans
This article is for subscribers only.
The European Central Bank continued its lifeline to Greece as euro-area nations warned the country still faces a battle to release financial aid.
The ECB’s Governing Council opted against tightening terms of Emergency Liquidity Assistance and raised the cap on funding by 1.1 billion euros ($1.2 billion) to 80 billion euros in a telephone conference on Tuesday, according to people familiar with the matter. The decision followed a statement by euro-area finance ministers on Monday recognizing Greece’s new willingness to meet the requirements for more bailout cash.