German FinMin spokesman: 'No basis for return of 1.2-bln-euro EFSF funds to Greece'
There is no basis for the return to Greece of 1.2 billion euros by the European Financial Stability Fund (EFSF), German Finance Ministry spokesman Martin Jaeger said in Berlin on Wednesday.
Jaeger said that EFSF had made funds available to Greece to pass the bank stress tests but as it proved unnecessary to use these funds, the Eurogroup decided on February 20 to return them to EFSF, where they now are. If anyone wants to discuss their use, he said, the Eurogroup would have to unanimously approve this. (The amount would be returned by the EFSF to Greece through the Hellenic Financial Stability Fund.)
Meanwhile, Reuters quoted a European Central Bank source as saying that the Emergency Liquidity Assistance ceiling for Greece was revised upwards of 71 billion euros, from 69.8 billion euros.
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