Greece seeks ECB bridging funds, vows to respect EU rules




 
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February 4th, 2015  
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Topic: Greece seeks ECB bridging funds, vows to respect EU rules


By John O'Donnell and Jan Strupczewski FRANKFURT/BRUSSELS (Reuters) - Greece's new leftist government appealed to the European Central Bank on Wednesday to keep its banks afloat and vowed to respect European Union rules as it seeks a negotiated solution with euro zone partners to reduce its debt burden. Finance Minister Yanis Varoufakis said after meeting ECB President Mario Draghi in Frankfurt he believed Athens could count on central bank support during the short period it would take to conclude talks with international lenders. Banking sources told Reuters that two Greek banks have begun to receive emergency liquidity assistance from the Bank of Greece after an outflow of deposits accelerated after the victory of the hard left Syriza party in a general election on Jan. 25. The Greek government wants that funding to continue because if the ECB were to halt it, Greek banks could collapse, forcing the country out of the euro zone.




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