June 11, 2020 / 6:37 PM / 24 days ago

Euro zone agrees to transfer 748 million euros to Greece

BRUSSELS (Reuters) - Euro zone finance ministers agreed on Thursday to release a transfer of 748 million euros (671.09 million pounds) to Greece in recognition of the country’s continued progress with agreed reforms, the ministers said in a statement.

“The necessary conditions are in place to confirm the release of the third tranche of policy-contingent debt measures,” the statement said.

The money comes from profits from Greek bond portfolios held by euro zone central banks that the euro zone had agreed to give back to Athens if reforms are continued after the last bailout ended.

Reporting by Jan Strupczewski

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