Greek emergency funding would be a decision for ECB council: Constancio

ECB Vice-President Vitor Constancio said on Saturday that a decision on whether to give Greece emergency funding would be up to the central bank's Governing Council. He was commenting on options available for Greek banks if the country's new anti-bailout government quits its EU/IMF program. Constancio said that the central bank's emergency liquidity assistance (ELA) facility -- designed as a stop gap for banks facing temporary problems -- was an alternative to its regular funding, but its provision would need to be approved by the European Central Bank's 25-member Governing Council. "There is the possibility of so-called ELA.

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