Europe News

ECB increases emergency support for Greek banks

A banking official says the European Central Bank has increased the amount of emergency liquidity that Greek lenders can draw on, the second time it has done so in two days.

The ECB held a teleconference Tuesday morning and agreed on the increase, the official said, but declined to provide a figure. The official, who spoke on condition of anonymity as the decision was not publicly announced, said the ECB would remain on call for a revision should that become necessary.

People line up at an ATM machine outside a National Bank branch in Athens, Greece.
Alkis Konstantinidis | Reuters

Worried Greeks pulled an estimated 4 billion euros out of banks last week ahead of critical meetings in Brussels to discuss a deal on the country's troubled bailout.

Eurozone officials are now discussing the latest Greek reform proposals, with hopes high for a deal this week.