LUXEMBOURG (AP) — A Greek banking source confirms that the European Central Bank has approved an increase in emergency credit for Greece's banks. The ECB's governing council held a teleconference Friday to discuss the issue. The banks need the credit to stay afloat, particularly as Greeks have been withdrawing more money amid uncertainty over the country's future. The Greek banking official said the precise sum of the new credit will not be announced. "The Greek banking system has no financing problems, and central bankers are looking to a positive outcome" during Monday's meetings on Greece, said the official, who spoke only on condition of anonymity because the decision was not made public. ____ Elena Becatoros, Derek Gatopoulos and Nicholas Paphitis in Athens and David McHugh in Frankfurt, Germany, contributed to this report.-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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