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Greek banks seek liquidity as cash withdrawals mount ahead of snap election

2015-01-16 17 Dailymotion

Two Greek banks the Greekeuro bank and Alpha bank have appealed for liquidity assistance from the country’s central bank.<br /><br /> The request indicates that banks are coming under pressure ahead of the snap election on January 25.<br /><br /> The Greek Central Bank has an Emergency Liquidity Assistance facility, but ELA loans are more expensive than ECB assistance.<br /><br /> Greeks have increased bank withdrawals since the government came close to collapse, but the money appears to have stayed in the country calming fears off a capital flight as occured in 2012.

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