Greek banks borrowed €6.6 billion from European Central Bank in May

Greek banks borrowed 6.6 billion euros from the European Central Bank in May to cover their increased liquidity needs, the Bank of Greece said in a report on Friday, ANA reports.

Greek banks are borrowing money at very advantageous terms with negative interest (-1.0 pct). Borrowing from ECB became feasible after the European Central Bank restored a waiver on Greek state bonds, accepting them as collateral.

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