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> Economy

ECB maintains ELA ceiling for closed Greek banks

Bank holidays remain...

Newsroom July 1 11:45

Euro zone central bank chiefs kept an existing cap on a funding lifeline to Greece in place on Wednesday, the ECB announced, a move that keeps pressure on the radical leftist government at a time when banks are closed and capital controls in place.

Tightening the Emergency Liquidity Assistance to Greek banks, used to make payouts, would have forced the country to lower its 60 euros-a-day on cash withdrawals. That could have turned public opinion against the euro ahead of the referendum.

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