Deposits in Greek banks continue to tumble despite the European Central Bank increasing its financial life-support to the Greek banking sector by a further €1.1 billion on Wednesday (17 June).
The ECB’s emergency liquidity assistance (ELA) programme for Greek banks now totals €84.1 billion following a meeting of its governing council. The move comes just a week after the Governing Council decided to allow a €2.3 billion increase to the ELA ceiling for Greece, taking it to €83 billion. <...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.