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ECB to decide on Greek emergency funding on Wednesday: Nowotny

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The ECB's governing council will meet on Wednesday to decide whether to increase emergency funding to Greek banks, council member Ewald Nowotny said on Monday.

[VIENNA] The ECB's governing council will meet on Wednesday to decide whether to increase emergency funding to Greek banks, council member Ewald Nowotny said on Monday.

Asked if the ELA emergency liquidity would be raised before a referendum on Greece's creditors' bailout terms next Sunday, he said: "On Wednesday we have another meeting of the ECB council where this is on the agenda. I don't want to anticipate this... Now the ball is in Greece's court."

"I assume that the majority of Greeks want to stay in the euro area, so I can imagine that this is a basis for new negotiations (but) there are many uncertainties here," Mr Nowotny said of the referendum.

REUTERS

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