Bank of France to Return Greece 754 million Euros

5/7/2012

Bank of France will hand over 754 million euros of interest collected on Greek government bonds it holds as part of agreements to offer the country financial support.

The figure was given on Wednesday by the French treasury in its revised 2012 budget, according to Bloomberg.

The European Central Bank indicated in February that national central banks could pass on profits from their Greek bonds to governments which could then funnel the money to Greece.

The ECB is forbidden from financing governments directly.

“The French state will return to Greece the interest earned by the Bank of France on Greek debt it holds to the amount of 754 million euros,” the French budget document said.

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