FinMin Staikouras leaving for Brussels to attend Eurogroup

Finance Minister Christos Staikouras will leave for Brussels on Tuesday to participate in Wednesday's Eurogroup meeting.

The finance ministers of the eurozone are expected to approve the return of 767 million euros in profits from Greek bonds held by the European Central Bank (ECB) and European national central banks (ANFAs and SMPs) as well as the cancellation of the interest rate hike imposed on part of the loan from the EFSF during the 2nd memorandum. The 767 million euros, along with the 1 billion euro disbursed in May, are expected to be channelled toward reducing the debt since decisions on the use of returned funds for investments are expected to be taken in the coming year.

Meanwhile, Staikouras will meet on Tuesday in Brussels with the newly appointed European Commissioner for Financial Affairs Paolo Gentiloni, while on Wednesday he will meet with his Irish counterpart Paschal Donohoe and other officials of European institutions on the sidelines of the Eurogroup meeting.