EFSF Board of Directors
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.
ESM: MoU hasn’t run out – Greek govt: No, it ended with the election
Back-and-forth statements between Greece’s lenders and the new leftist government have turned into a proverbial tug-of-war.
While the Greek side insists on clarifying that the Memorandum is over, ESM Managing Director Klaus Regling tried to bring the former back to reality, saying that the “Memorandum has not ended, nor has it been suspended by the loan agreement”.