ECB Raises Emergency Funds

The European Central Bank (ECB) has hiked its emergency lending to Greek banks, raising hopes that lenders may be able to open their doors after more than two weeks of closures.

Speaking at the ECB’s monthly press conference Thursday, bank president Mario Draghi confirmed that the bank would up its funding to lenders in Greece by 900 million euros ($978 million) over one week.

It comes after the Greek parliament voted in favor of an austerity reform package in the early hours of Thursday morning, paving the way for a bailout program.

CNBC

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