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ECB raises emergency liquidity for Greek banks

ECB raises emergency liquidity for Greek banks

By Keshav

Finland's Finance Minister Alexander Stubb speaks with the media after a meeting of eurogroup finance ministers at the EU LEX building in Brussels on Wednesday, June 24, 2015. With major differences remaining between Greece and its creditors, eurozone finance ministers cut short a meeting on Greece's proposals to avoid a default and planned to meet again Thursday. AP

ATHENS: The latest developments involving Greece and its bailout negotiations: A Greek banking official says the European Central Bank has approved a request from Athens to increase the amount of emergency liquidity Greek lenders can tap from the country's central bank. The ECB approved the request Thursday, as it has done every day since Friday as Greece headed into the final stretch of tough bailout negotiations with no clear solution in sight. The banking official, who spoke on condition of anonymity because the decision was not publicly released, said the ECB would meet again within the next 24 hours if necessary. Worried Greeks have been withdrawing their money from their country's banks, fearing the imposition of restrictions on banking transactions. An estimated more than 4 billion euros ($4.5 billion) left Greek banks last week.