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ECB raises emergency liquidity to Greek banks: reports

Xinhua, June 23, 2015 Adjust font size:

The European Central Bank (ECB) increased its emergency liquidity funds to Greek banks for the third consecutive day on Tuesday, according to media reports.

After being raised on Sunday and Monday, the limit of the ECB's Emergency Liquidity Assistance program to Greek banks was increased again to around 89 billion euros (about 99.76 billion U.S. dollars) on Tuesday, reported Reuters, citing insiders.

The ECB declined to confirm the news which came as billions of euros were withdrawn from Greek banks in past weeks amidst scenarios of capital controls in case Greece would not have a cash-for-reforms deal by June 30.

Greece is heading towards a last-minute deal with its international creditors to unlock the final 7.2 billion euros of its current bailout program.

It needs the money to make a repayment of 1.6 billion euros to the International Monetary Fund at the end of June when the bailout program expires.

On Monday, Greece submitted its latest proposals for reforms which Eurogroup President Jeroen Dijsselbloem said was "broad and comprehensive" and was seen as "a positive step in the process."

After a Eurogroup summit held on Monday, European Commission President Jean-Claude Juncker said eurozone leaders agreed to finalize the Greece debt talks within the week. Endit