Greece: ECB increased emergency loans to banks – SPIEGEL ONLINE

Again has approved additional emergency loans for the ailing Greek banking system, the European Central Bank (ECB). The so-called ELA bailouts have been further extended to the Bloomberg news agency reported, citing insiders. An exact amount was not disclosed. On Monday, the central bank had approved an increase of 1.9 billion to 87.8 billion euros.

Without this money, the Greek banks would be bankrupt long ago. For bank customers in Greece drag for months savings from their accounts. In the past week alone, there were said to be more than four billion euros. Behind the fear of a national bankruptcy is likely stuck and they will no longer get money worry in the case of capital controls.

The banking system works only because the ECB allows the national central bank (Bank of Greece), the German credit institutions to provide them with emergency assistance (Emergency Liquidity Assistance – short Ela)

will if necessary the again come together Governing Council with a conference call to discuss an extension of the financial framework, reported Reuters.

Investor celebrate before the Greek bailout

The experts of the European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) want the debt dispute with Greece still solve this week. The government in Athens has to submitted new proposals for reform. These must now be tested in a hurry.

Investors apparently constitute that Greece and the donors agree. Because on the stock markets, there was on Tuesday price jumps. The Greek benchmark index at the Athens stock market started with three percent in positive territory in the trade. The banking index even rose by more than six percent.

Also at the Frankfurt Stock Exchange of the cautious optimism of politicians has been hailed by the EU summit. The Dax put in early trading by 0.74 percent to 11,545 points.