The European Central Bank's (ECB) governing council will hold an emergency session Friday to discuss a request from the Bank of Greece for an increase in liquidity to Greek banks.
The Bank of Greece is seeking approval for an increase of more than 3 billion euros in the emergency loans being granted to Greek lenders, the sources said. The request comes just days after the ECB approved a 1.1-billion-euro increase in the ELA ceiling to €84.1 billion.
The meeting, starting at noon via conference call, comes after the breakdown of talks between finance ministers in Luxembourg on Thursday night raising fears of a possible Grexit. The ECB's governing council will discuss a possible increase in the Emergency Liquidity Assistance (ELA) facility, as deposit withdrawals from Greek banks have accelerated. The timing - just three days before a scheduled summit of all European Union leaders - was determined by fears of a run on the banks as Greek depositors have withdrawn more than €3.2bn since Monday, including €1.2bn on Thursday.
The EU has called an emergency eurozone summit on Monday June 22, ahead of one already planned for June 25-26. "It is time to urgently discuss the situation of Greece at the highest political level," said Donald Tusk, who presides over meetings of European leaders.
Greek Prime Minister Alexis Tsipras expressed optimism Friday that a bailout deal can be reached,
"The summit on Monday is a positive development on the road toward an agreement," Tsipras said in a statement, adding that those betting on "crisis and terror scenarios" will be proven wrong.
"There will be a solution based on respecting EU rules and democracy, which would allow Greece to return to growth within the euro [area]," Tsipras said.
Meanwhile, well informed sources, say that Tsipras will hold a phone call over the weekend with European Commission President Jean Claude Juncker, without excluding holding phone calls with several other European leaders.
According to the same sources an extraordinary Eurogroup could be summoned before Monday, to evaluate the Greek proposals depending on the outcome of the phone calls.
TASS: RUSSIA COULD OFFER GREECE FINANCIAL AID
Prime Minister Tsipras traveled to Russia on Thursday and will meet President Vladimir Putin on Frida. Ahead of that meeting will make a keynote speech at St. Petersburg International Economic Forum (SPIEF).
Tsipras's visit has given rise to speculation that the Greeks may be seeking Russian loans.
According Deputy Prime Minister Arkady Dvorkovich Russia is ready to consider the question of giving financial aid to Greece.
"We will support any solution on regulating the Greek debt crisis that is suggested by Greece and our European partners," Dvorkovich said in a television interview quoted by TASS news agency on Friday.
"The most important things for us are investment projects and trade with Greece. If financial support is required, we will consider this question," he was quoted as saying.