The European Central Bank convened on Tuesday in order to discuss raising the ceiling of the emergency liquidity assistance available to Greek banks.
Following a discussion, the ECB decided to increase the ELA by 500 million euros, bringing the total to 80.7 billion euros. This means that Greek banks will have a liquidity of about 3 billion euros. The possibility of a discount on the collateral offered by Greek banks was not discussed.
The chief of the ECB Mario Draghi is expected to give a press conference on Wednesday.
