Greek banks reduce borrowing from ELA to €1 million in May 2019

Greek banks are closer to bringing borrowing from the ELA mechanism down to zero, ANA reports.

At the end of May, Greek banks’ borrowing from the ELA mechanism dropped to 1.0 million euros from 3.0 million a month earlier, according to Bank of Greece figures. The Greek banks’ dependence on the mechanism was at 21.6 billion euros in 2017 and 43.1 billion in 2016.

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