Home / Business / World Business / Eurogroup may block Greek loan if officials not granted immunity

Eurogroup may block Greek loan if officials not granted immunity

The Eurogroup of finance ministers may block an 8.5-billion-euro ($9.5-billion) loan to Greece if it does not grant immunity to privatisation agency officials from Spain, Italy and Slovakia, Spanish Economy Minister Luis de Guindos said on Friday.

In 2015, a Greek prosecutor charged three officials at the country’s privatisation agency with embezzlement for withholding interest payments and breach of duty in relation to a sale and lease-back deal of 28 state-owned buildings. The case is still pending.

“If there’s not a definitive solution for the situation of these three experts, the Eurogroup will block the payment,” de Guindos said in Luxemburg.

Greece would do “whatever necessary” to immediately settle the legal case, a Greek government official said.

European Economic and Monetary Affairs Commissioner Pierre Moscovici said he was confident the problem would be resolved and that he would continue to discuss the issue with Spain during his visit to Madrid next week.

“The problem has to be solved. We should not over dramatise it. The disbursement will happen and at the same time will find a solution to this problem,” Moscovici said on his arrival at a meeting of EU finance ministers in Luxemburg on Friday.

On Thursday, euro zone governments threw Greece the latest financial lifeline and sketched new details on possible debt relief, allowing Athens to avoid defaulting on bailout repayments next month.

Italy’s Economy Minister Pier Carlo Padoan said the disbursement of the 8.5-billion-euro loan would continue as the progress on the officials’ case was assessed and that he was optimistic of a quick solution. (Reuters)

Check Also

McDonald’s to shut 169 outlets in India

Fast food chain McDonald's said on Monday it planned to shut all 169 of its restaurants in India's northern and eastern regions, escalating a dispute with its local partner and potentially putting thousands of workers out of jobs.

VW in no hurry to sell assets

Volkswagen is more focused on its multi-billion-euro shift towards electric vehicles and transport services than any potential sale of motorcycle brand Ducati or transmissions maker Renk, its head of strategy told Reuters.

One comment

  1. So these People are not only allowed to steal from any country in Europe, They want Immunity for doing it ???
    All Euro group officials should be rounded up and shot

Leave a Reply

Your email address will not be published. Required fields are marked *