EFSF approves eighth reduction of step-up interest margin for Greece

The European Financial Stability Facility (EFSF) decided on Thursday to reduce to zero the step-up margin accrued by Greece for the period between June 17 and December 31, 2022, as part of the medium-term debt relief measures agreed for the country in 2018.

The value of this eighth reduction amounts to 122.5 million euros, it said in a statement.

The EFSF Board of Directors also decided to reduce the step-up margin to zero from January 1, 2023 onward.

This concludes the reduction of the step-up margin under the medium-term debt relief measures.

Additionally, as part of the debt relief measures, the European Stability Mechanism (ESM), acting as an agent for the euro-area member-states and after their approval, will make a transfer of approximately €603 million to Greece.

This corresponds to the income earned on holdings regarding the Securities...