By Renee Maltezou and John O’Donnell
The European Central Bank raised the pressure on Greece to extend an international bailout deal on Thursday, as new leftist Prime Minister Alexis Tsipras told EU leaders austerity was killing his economy and an alternative had to be found.
After euro zone finance ministers failed to agree a joint statement about a way forward on Greece’s debt crisis, the ECB’s Governing Council held a short-notice teleconference to discuss how long it could continue to keep Greek banks afloat.
The ECB agreed to increase Emergency Liquidity Assistance (ELA) from the Greek central bank by about 5 billion euros …read more
Source: Cyprus Mail
