ECB Raises Greek ELA By €900 Million

The biggest unknown in today's ECB Q&A was whether Mario Draghi would agree to raise the Greek ELA, and moments ago we go the answer:

• DRAGHI SAYS ECB RAISED GREEK EMERGENCY BANK AID THURSDAY
• DRAGHI SAYS CONDITIONS TO INCREASE ELA HAVE BEEN RESTORED
• DRAGHI SAYS ECB ACTS ON ASSUMPTION THAT GREECE IS EURO MEMBER

Specifically, Draghi said that "The decision to raise ELA again today is symmetrical to the decision we took a few days ago to freeze ELA."

And as to how much:

• DRAGHI SAYS ELA INCREASE WILL BE €900 MILLION OVER ONE WEEK

So now the question becomes on what day will the Greek banks reopen, and what will be the popular response: will the population rush to deposit the money they have pulled out, or vice versa, will this opportunity to withdraw even more be promptly consumed.