Eurozone ministers on Monday held back granting Greece debt relief because the government failed to implement reforms promised during the massive bailout that ended last year, officials said.
Greece exited its third and final international bailout in August, a turning point in its progress out of the catastrophe that engulfed the country during the financial crisis.
The Greek government has still failed to complete housing insolvency rules that have raised fears in Greece for families threatened with foreclosure on their homes.
European officials, however, played down the delay, not wanting to rekindle memories of the eurozone debt crisis that nearly destroyed Europe’s single currency.
“It’s too early to decide formally on the disbursement today,” said EU Economics Affairs Commissioner Pierre Moscovici ahead of a Eurogroup meeting of eurozone finance ministers.
On This Day
- 1770: Daskaloyiannis raised the flag of revolution at Sfakia, Crete during the "Orlov Events".
- 1821: Greece declared the War of Independence against Turkey.
- 1914: The sports club of Aris Thessaloniki was founded.
- Births: Bishop Germanos of Patra, who was to bless the Greek War of Independence on his 50th birthday (1771), Ecumenical Patriarch Athenagoras (1886).
- Deaths: Spyros Samaras, composer (1917)