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Bundesbank chief concerned about emergency funding for Greek banks

Posted by: Admin | Posted on: April 25th, 2015 | 0 Comments

BERLIN (Reuters) – The head of Germany’s Bundesbank said on Saturday he had misgivings about granting emergency funding to Greece as the liquidity situation at the country’s banks has not improved.

Jens Weidmann was speaking at a press event with German Finance Minister Wolfgang Schaeuble after a meeting of euro zone finance ministers in Riga.

“As you know I have concerns about granting emergency liquidity on account of the fact that the banks are not doing everything to improve their liquidity situation,” Weidmann said.

European Central Bank President Mario Draghi said on Friday Emergency Liquidity Assistance (ELA) would continue to be given to Greek banks as long as they are solvent and have adequate collateral.

(Reporting by Tom Koerkemeier; Writing by Caroline Copley; Editing by Toby Chopra)

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