ZeroHedge – Greek Bank Will Write Off Up To €20,000 In Debt For “Poverty-Stricken” Borrowers – 24 April 2015

ZeroHedgeOver the past several months, as a result of their lockout from capital markets, Greek banks’ reliance on the ECB’s Emergency Liquidity Assistance has soared, and at last check was somewhere in the mid-€70 billion range.

The conventional wisdom was that the ECB was merely plugging the hole created weekly (and often, daily) as a result of the chronic Greek bank run which has seen tens of billions in deposits withdrawn from Greek banks since Syriza officially took power earlier this year.

Read the full story at: www.zerohedge.com / link to original article

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