ECB moves Greek banks to emergency liquidity

The European Central Bank has said it has moved some Greek banks onto an emergency liquidity assistance programme.

16th May, 2012
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The European Central Bank has said it has moved some Greek banks onto an emergency liquidity assistance programme.

In an emailed statement reported by Bloomberg News the ECB said the move was pending recapitalisation of banks that were "severely undercapitalised".

The banks could resume normal financing once the recapitalisation process was done, the ECB said. It expected this to be completed soon, it said.

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