Thursday, March 26, 2015

Greece maintains claim to 1.2 billion euros in euro zone bailout fund

March 26, 2015

The head of Greece's bank rescue fund maintained on Thursday that Athens has a legal claim to 1.2 billion euros in the euro zone's bailout fund, a day after European officials rejected its request.

Athens had appealed for the European Financial Stability Facility to return 1.2 billion euros it said it had overpaid when it transferred bonds intended for bank recapitalisation back to the Luxembourg-based fund this month.

But euro zone officials agreed on Wednesday that Greece was not legally entitled to the money, dashing Athens's hopes for a quick cash payment it needs to help avert potential bankruptcy as early as next month.

In a statement on Thursday, the chief executive of the Hellenic Financial Stability Fund (HFSF), Anastasia Sakellariou, defended Athens's claim.


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