Frankfurt - There should be no sudden end to the European Central Bank's (ECB) approval of emergency funding for Greek banks expected this week, a person familiar with the situation said.
The ECB's Governing Council meets on Wednesday and will review the provision of so-called Emergency Liquidity Assistance (ELA) to Greek banks, with Greece at loggerheads with eurozone governments over the future of its international bailout, which expires at the end of this month.
The ECB has stopped accepting Greek bonds as collateral for funding, shifting the burden of financing its lenders via ELA to Greece's central bank. However, the ECB retains control over that ELA funding, which is subject to tight conditions.