Greek banks' dependence on ECB borrowing increased in May

Borrowing by Greek banks from the European Central Bank amounted to 97.5 billion euros in May from 86.8 billion euros in April, according to data publicised by the Bank of Greece.
Earlier, National Bank managing director Apostolos Tamvakakis had pointed out that "the developments of the past months affected and continued to affect negatively the effort to stop the Greek banks' dependence on the ECB's fluidity."
He expressed the hope that this development will have a temporary character.

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