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Payment to Greece postponed

Eurozone finance ministers (Eurogroup) postpone a payment of 1 billion euros to Greece by one month. The country has not taken a number of agreed reform measures in time.

The benefit comes from a 2012 agreement, when Greece threatened to go bankrupt. The profits that euro countries made with buying up Greek government bonds are transferred half-yearly to Athens until mid-2022 to help ease the debt. The Eurogroup had to decide on Monday about this first special deposit since it was out of the international support program.

According to EU Commissioner Pierre Moscovici (economic and financial affairs), Greece has taken important steps forward, but more is needed. The decision is now made in the next Eurogroup, in early April in Boekarrest. It is expected that Athens will have its affairs in order.

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