The European Central Bank has increased its emergency lending to Greece, President Mario Draghi revealed Thursday, raising hopes that banks may be able to open their doors after more than two weeks of closures.
He said the bank would raise its funding to lenders in Greece by $978 million over one week. The move comes after the Greek parliament voted in favor of an austerity reform package in the early hours of Thursday morning, paving the way for a bailout program.
"We have today accommodated the Bank of Greece request, though scaled to one week. We want to see how the situation will evolve," Draghi said, speaking from the central bank's headquarters in Frankfurt, Germany.