ECB approves banking lifeline

The European Central Bank (ECB) has approved an increase in emergency credit for Greece’s banks, according to a Greek source.

The banks need the credit to stay afloat, particularly as Greeks have been withdrawing more money amid uncertainty over the country’s future.

A Greek banking official said the precise sum of the new credit will not be announced.

Uncertainty has grown after a meeting about the economic reforms Greece must make to get more loans ended in acrimony.