ECB Increases Emergency Funding to Greek Banks

The European Central Bank has once again raised the limit on the emergency liquidity assistance  available to Greek banks to around €89bn as depositors continued to withdraw funds.

At the same time, indications suggest that a deal will be reached between the radical left Greek government and global banksters.

Jean-Claude Juncker, European Commission president, said after Monday’s emergency summit that he was “confident” of a positive outcome.

“I am convinced that this is not only our intention to finalise the decision-making process this week — we will finalise the process this week,” he said.

In the last 24 hours, Greek banks stocks have climbed by more than 25%.

-RW