The ECB and European Union have rushed to reassure financial markets that help is at hand for Greece as it heads for a high-risk exit from its debt-rescue program.
The European Central Bank, which manages how funds are fed into the eurozone economy, is promising an extra cash lifeline for Greek banks if the government sticks to its bailout program, the Greek central bank said on Thursday.
And in Brussels, the European Union said that it would go on helping twice-bailed out Greece "in whatever ways necessary", as European stock and bond markets shook in sudden convulsions at the state of the single-currency bloc.
"There will be no doubt that Europe will continue to assist Greece," said Simon O'Connor, spokesman for the EU's Economic Affairs Commission.
The decision on extra help for Greek banks was taken late on Wednesday by ECB bank governors in Frankfurt after the Athens stock market plunged for two days in running.
Yields on Greek bonds had shot up as investors worried about the government terminating the bailout plan.
On Thursday the 10-year bond yield rose further to 8.656 per cent from 7.854 per cent.
The ECB has decided to reduce the markdown on the value of assets which Greek banks have to put up to borrow cash.
This will have the effect of making up to an additional 12-15 billion euros ($A18-$A22.5 billion) available to them.
The Athens stock market plunged 5.7 per cent on Tuesday and 6.3 per cent on Wednesday, while the yield on its 10-year bonds jumped to 7.94 per cent. It was down 1.9 per cent on Thursday.
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