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Thursday, March 12, 2015

ECB preserves Greek banks’ cash cushion of 3.5 billion euros

The European Central Bank has assented to another marginal rise in the emergency cash available to Greek banks, as it raised the limit of the Bank of Greece’s emergency liquidity assistance (ELA) mechanism by 600 million euros on Thursday, intended solely to avert any unexpected liquidity problems. At the same time the state is hoping to draw 2 billion euros from the cash reserves of various state entities.


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