MOSCOW (Sputnik) — Greek banks have been close to running out of funds after Greeks started withdrawing cash from ATMs amid a lack of agreement between Athens and its major international creditors. The government announced bank holidays last Monday and restricted cash withdrawals to 60 euros a day per person.
"The Governing Council of the European Central Bank decided today to maintain the provision of emergency liquidity assistance (ELA) to Greek banks at the level decided on 26 June 2015," the bank authority said in a press release.
It added that emergency loans "can only be provided against sufficient collateral."
Following the Greek fallout, ECB has been closely monitoring financial markets and promised it will use any tools available within its mandate to preserve stability in the 19-member euro area.
