Ireland will participate in Greek rescue program

Source: tovima.gr

Irish Central Bank will return its 126 million euros of investment profits from Greek bonds to Greece

Ireland will participate in Greek rescue program

According to the Irish Examiner, Ireland is rumored to have agreed to pay 126 million euros Greece over the next few years, as part of the agreement of the midterm financial strategy plan.

Now that Ireland has officially exited its rescue program and become a “normal” Eurozone member, the Irish Central Bank must comply with the agreement to return any profits from Greek bonds to Greece, as part of the Greek rescue package.

The funds will gradually be transferred from the Irish bank to the Greek central bank from next year, with the full 126 million euros expected to be handed over by 2025.

This agreement only relates to Greek bonds, rather than any other member states currently in a rescue program and will not affect the Irish Finance Ministry’s efforts.

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