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Greek Banking System

Greek banks cut borrowing from ELA to zero

The Greek banking system has returned to normality after bringing its dependence on the Emergency Liquidity Assistance (ELA) mechanism down to zero, banking sources said on Wednesday.

Banking sector in a transition phase

A financial crisis was leading to the end of the 40-year traditional banking system, with US banks becoming global players, Panagiotis Thomopoulos, chairman of National Bank's board said during a meeting at the Delphi Economic Forum.