Eurogroup to meet again tomorrow with the ECB to also review the ELA for Greek banks
◉ECB's Nowotny says that the ECB have kept the Greek ELA unchanged at EUR 88.6bln. (BBG) These comments come amid reports that the ECB is poised to impose tougher haircuts on the collateral that Greek lenders place in exchange for the emergency loans, according to the FT. According to sources, German finance minister Schaeuble informed conservative lawmakers that he would request that the ECB does not increase the ELA for Greek banks. (RTRS)
◉Eurogroup say that they will hold a call again at 1600BST/1000CDT tomorrow in regards to Greece, according to an EU official. An EU official stated today that Greece will send their creditors a new set of fresh proposals. (BBG)
◉Greece may suspend the referendum (July 5th) if talks restart and there was an offer and agreement on required prior actions, according to the Maltese PM. (Times of Malta)
◉Eurogroup chief Dijsselbloem says institutions will debate the request for a further bailout program only following the referendum, this was also reiterated by German Chancellor Merkel. (BBG)
◉ECB's Praet says that the central bank will implement further policy measures if required, he also says that the ECB stimulus will remain as long as it is required. (BBG)
◉Rating agency S&P earlier downgraded all four major Greek banks to Selective Default saying that default is inevitable unless unexpected support appears. (BBG)
