ECB saves Greece from bankruptcy by securing emergency loans-paper

4/08/2012 - 4:09

BERLIN (Reuters) - The European Central Bank (ECB) has saved Greece from bankruptcy for the time being by securing it interim financing in the form of additional emergency loans from the Bank of Greece, German newspaper Die Welt said on Saturday.

The ECB's Governing Council agreed at its meeting on Thursday to increase the upper limit for the amount of Greek short-term loans the Bank of Greece can accept in exchange for emergency loans, the newspaper said in an advance copy of the article due to appear in its Saturday edition.

Until now the Bank of Greece could only accept T-Bills up to a limit of 3 billion euros ($3.70 billion) as collateral for emergency liquidity assistance (ELA) but it has applied to have this limit increased to 7 billion euros, the daily said, citing central bank sources.

The ECB Governing Council gave this wish the green light, the paper said.

The move should enable the Greek government to access up to an extra 4 billion euros of funds, the paper said, adding that this should ensure the country keeps its head above water until the "troika" of the European Union, the European Central Bank and the International Monetary Fund decide on the disbursement of the next tranche of money from its aid program in September.

The ECB declined to comment, the paper said.

($1 = 0.8104 euros)

(Reporting by Michelle Martin; Editing by Sandra Maler)


Contenido patrocinado

Otras noticias


2018-04-19 12:54:36

Polémica oferta laboral que roza la prostitución y enciende la Red

Piden fotos de "cuerpo entero" para una oferta que incluye tener "relaciones" con el director.

El flash: toda la última hora


Todos los boletines

Prima de Riesgo
País Precio Puntos %
ESP 68,16 -0,45 -0,66%
FRA 21,59 -0,14 -0,62%
ITA 118,24 -0,29 -0,24%
GRE 346,67 +0,37 +0,11%
POR 108,19 +0,37 +0,34%



Relevo patrio del pijo Ralph Lauren

Relevo patrio del pijo Ralph Lauren

Copyright 2006-2016, Editorial Ecoprensa, S.A. | Política de Privacidad | Aviso Legal | Política de cookies | Cloud Hosting en Acens