BRUSSELS (Reuters) – Greece is at risk of not getting some 750 million euros next month that it won under a debt relief deal with the euro zone last year because it has not completed agreed reforms, euro zone officials said on Monday.
The money is part of about 4.8 billion euros of profits from Greek bonds held by euro zone central banks, to be handed back to Athens by mid-2022 in semi-annual tranches and a waiver of the step-up interest rate margin on part of the euro zone loans.
Measures - Months - Money - Incentive - Athens
Together, the two measures add up to 750 million every six months. The money was designed as an incentive for Athens to continue with hard-won reforms adopted under its three bailouts since 2010, worth more than 280 billion euros in total.
The European Commission will issue a report on Feb. 27 spelling out Greek progress in implementation of the agreed reforms. The conclusion of this report will be key for euro zone finance ministers to decide whether to allow the disbursement.
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