ECB raises ELA limit by 2 bn. euro for Greece

An unsurprising move

The ECB increased the ELA by two billion euros, which means that from 68.9 billion euros, it went over 71 billion.

 

According to analysts, the ECB’s decision may be attributed to the fact that the bank sent a memo to the four systemic banks to not raise their exposure in Greek T-bills.

 

At the same time, this move comes as no surprise, and is seemingly intended so that the increased needs of banks and the Greek public sector are covered.