Greek Bank Shares Slide to Record Low as ECB Considers Pulling the Plug!
- Greek Bank Shares Slide to Record Low as ECB Considers Pulling the Plug!
by Mehreen Khan, http://www.telegraph.co.uk/
European Central Bank draws up plans to limit emergency assistance as Alexis Tsipras gears up to meet Chancellor Merkel.
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Shares in Greece’s stricken banks fell to an all-time low on Tuesday amid fears the European Central Bank was planning to finally pull the plug on the country’s lenders.
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Banks stocks fell by 4pc on the news that ECB staff had drawn up a memo which proposed limiting the emergency assistance (ELA) that has been keeping lenders alive since the Syriza-led government entered office at the end of January.
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Tuesday’s trading helped cap off a torrid run which has seen more than 50pc wiped off the value of Greece’s lenders since the start of the year.
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