Author Topic: No refund  (Read 3397 times)

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Offline Maik

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No refund
« on: Wednesday, 25 March, 2015 @ 21:45:09 »
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The Greek government will not receive €1.2bn (£883m) in European rescue funds after officials ruled the Leftist government had no legal claims on the cash.

Athens requested a return of the funds it said were erroneously handed to creditors from Greece's own bank recapitalisation fund, the Hellenic Financial Stability Facility (HFSF).

The transfer was originally arranged by the previous Greek administration.

But eurozone officials have blocked the claim, saying it is "legally impossible" transfer the money back to the debt-stricken country.

"There was agreement that, legally, there was no over payment from the HFSF to the EFSF," said a fund spokesman.

Germany's finance ministry was also reluctant to allow the release, claiming there was "no reason" to make the transfer.

The decision is a further blow to the Greek government's attempts to stay afloat over the next few weeks.
http://www.telegraph.co.uk/finance/economics/11494427/Europe-blocks-desperate-Greek-attempt-to-stay-afloat.html