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ECB freezes ELA cap for Greek banks at 89 bln

The European Central Bank (ECB) on Wednesday decided to keep the Emergency Liquidity Assistance (ELA) for Greek banks frozen at the same level as on June 26, namely 89 billion euros, without raising or lowering it further, according to sources.

Bank closure extended

Greece is extending its bank holiday and the 60-euro cap on cash withdrawals until July 13, according to a new ministerial decision on Wednesday. 

Search for shipwrecked migrants continues

Three bodies have been recovered by Greek rescue teams on Tuesday after a sailboat carrying 37 to 40 undocumented migrants sank in the sea between the Aegean islands of Agathonissi and Farmakonissi earlier today, according to the Hellenic Coast Guard.

Merkel: Greek government's detailed proposals by Thursday

German Chancellor Angela Merkel said on Tuesday she hopes to receive from Greece adequate proposals for promoting reforms until Thursday, so that she can ask the German parliament to approve the restart of negotiations on a new, long-term support program of the Greek economy. 

Tourism profesionals accepting other currencies

The bank holiday imposed by the government has forced some tourism professionals in northern Greece and on the Aegean islands to start accepting transactions with Bulgarians, Turks and other international holidaymakers in their own national currencies.

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