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| Version 0 | Version 1 |
|---|---|
| Greek debt: ECB 'to maintain funding limit' | Greek debt: ECB 'to maintain funding limit' |
| (35 minutes later) | |
| The European Central Bank says it will maintain its emergency funding of Greek banks at the level agreed on Friday. | The European Central Bank says it will maintain its emergency funding of Greek banks at the level agreed on Friday. |
| The ECB said that it stood ready to review the decision on its Emergency Liquidity Assistance (ELA) and would work closely with the Bank of Greece. | The ECB said that it stood ready to review the decision on its Emergency Liquidity Assistance (ELA) and would work closely with the Bank of Greece. |
| BBC economics editor Robert Peston says the ECB is not providing any additional aid to Greece, which will lead to huge pressure for capital controls. | BBC economics editor Robert Peston says the ECB is not providing any additional aid to Greece, which will lead to huge pressure for capital controls. |
| Greek banks depend on ELA, and cutting it could push Greece out of the euro. | Greek banks depend on ELA, and cutting it could push Greece out of the euro. |
| An ECB spokesman told the BBC: "Greece still has access to the ELA." | |
| The ECB statement quotes Bank of Greece Governor Yannis Stournaras as saying: "The Bank of Greece, as a member of the eurosystem, will take all measures necessary to ensure financial stability for Greek citizens in these difficult circumstances." | |
| The statement comes after eurozone finance minsters on Saturday refused a Greek request to extend Greece's current bailout. | |
| The bailout expires on Tuesday, the same day that Greece has to make a payment of €1.5bn (£1.1bn) to the International Monetary Fund (IMF) that it risks defaulting on. | |
| Greece and its creditors had been locked in negotiations over a new bailout on Friday when the Greek government called a surprise referendum for 5 July over whether to accept the terms it was being offered. It has described the international offer as "not viable". | |
| It then asked for an extension of its current deal until after the vote was completed. |