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Friday, June 19, 2015

ECB staves off collapse of Greek banking system with emergency funding

Greece and its creditors remain in defiant mood as central bank provides €1.8bn to keep banks operating over weekend before Monday’s crunch meetingsThe European Central Bank provided just enough support on Friday to stave off the collapse of the Greek banking system as political and financial pressure was piled on Athens before a crisis summit of eurozone leaders on Monday.With more than €1bn (£715m) leaving Greek banks on Friday alone, the ECB provided €1.8bn in emergency funding to keep the system operating over the weekend and said it would meet again on Monday to decide whether to provide further help. Continue reading...


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