14 December: Eurogroup blocks debt relief in reaction to Greek 2017 budget

December 14, 2016

After Greece adopted its 2017 budget with a tight 152-146 majority on Saturday 10 December, including a total of 617 million to around 1.6 million low-income pensioners, the Eurogroup has circulated a statement concluding that the necessary unanimity for Greek debt relief (see this ESM explainer) is now lacking:

"- The institutions have concluded that the actions of the Greek government appear to not be in line with our agreements;

– Some member states see it this way also and thus no unanimity now for implementing the short term debt measures;

– We await a full report of the institutions in January"

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