Definitions for ela
This page provides all possible meanings and translations of the word ela
Revolutionary People's Struggle, ELA(noun)
an extreme leftist terrorist group formed in Greece in 1971 to oppose the military junta that ruled Greece from 1967 to 1974; a revolutionary group opposed to capitalism and imperialism and the United States
ale, LAE, LEA, Lea, lea
Sample Sentences & Example Usage
The ECB is widely expected to keep policy unchanged at the June council meeting today, the focus of the press conference will be on comments on Greece and whether the ECB is willing to maintain Greek banks' lifeline in the form of extended ELA assistance.
The ECB has always said that as long as Greek banks are solvent, then emergency loans, the ELA, can be granted, and now there is naturally a new situation that because of the developments the liquidity and solvency of Greek banks, or some Greek banks, could be in doubt.
A continuation of the deadlock on Monday will immediately shift focus to Wednesday’s bi-weekly ECB review of the ELA limits of Greek banks, in the event of failure, we would expect the ECB to become more explicit on the timing of when ELA funding would be withdrawn or capped.
Ultimately, the alternative of ELA withdrawal and eventual capital controls for Greece is worse for all sides involved. But whether progress can be achieved under very pressing deadlines and large differences of opinion on the underlying policy path between the two sides remains to be seen.
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