ELA is a "bridge to somewhere" – ECB’s Praet

FXStreet (Mumbai) - The emergency cash window for Greek lenders is only for short-term needs, European Central Bank (ECB) Executive Board member Peter Praet said on Tuesday, as Greece continues its disagreement with the European Union.

ECB Praet referring to ELA noted that it was, “essential" that the facility is a "bridge to somewhere".

"It is essential that we preserve that,"
However, he warned that the framework was designed for "only very short needs."