ECB back to increase liquidity line to Greek banks in more than 900 million euros – Jornal de Negócios – Portugal

ECB back to increase liquidity line to Greek banks in more than 900 million euros

The European Central Bank (ECB) decided to increase further the emergency liquidity facility, the Greek banking. Process nearby sources reveal that the increase was 900 million euros.

The European Central Bank (ECB) decided, through a conference call, raise again the liquidity line of Greek banks (so-called ALS). The increase was EUR 900 million, identical to that held last week, reveal unidentified sources told Bloomberg.

These ECB decisions are rarely made official, and there is so confirmation of the decision, not the size.

In the last week the monetary authority had decided to increase by EUR 900 million the amount of ALS, which was frozen at 89 billion euros since July 28, when the negotiations between Athens and the creditors were suspended the referendum expected to measures the troika.

However, Greece has adopted a number of measures that unlocked the help, allowed it to be granted a bridge loan in the amount of 7.16 billion euros which served to Athens get repay the ECB, worth more than four billion euros (including interest) and pay the arrears to the IMF.

This Wednesday, July 22, the Greek parliament back to be reunited to adopt measures which had not yet been the subject of debate. Today in debate (and vote) are two measures: the adoption of a new Civil Procedure Code, in order to speed up judicial processes and reduce costs. The Civil Code of Greece was little changed since it was introduced in 1967, and international lenders have pushed this reform; and the transposition of European Directive on the resolution of banks and guarantee deposits.

(updated News at 15h17 with more information)