Eurozone officials dash Greek hopes of securing €1.2bn from bailout fundOfficials in the Eurogroup Working Group (EWG) agreed in a teleconference yesterday that Greece has no right to tap €1.2bn from the European Financial Stability Facility (EFSF), one of the Eurozone’s bailout funds. The Greek government claimed that it had overpaid the amount when transferring money from the country’s national bank bailout fund to the EFSF as part of the 20 February Eurogroup agreement. The decision comes as a further blow to the Greek government, which is widely reported to be running out of liquidity soon.
Meanwhile, the ECB yesterday increased …read more
Source: Open Europe