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Tuesday, August 04, 2015

Greece Has Loads of Money

Apparently, if Reuters sources are to be believed, Greece is unlikely to ask for an increase in emergency funding from the European Central Bank for weeks.

For why?

It has loads of money!

The sources claim that Greece's liquidity buffer has risen from Euro1BN to Euro5BN, thanks to two Emergency Liquidity Assistance (ELA) increases from the ECB, tax and tourism inflows, and pension payments.

Let us trust that this buffer isn't squandered!

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