19/07/2022 (Agence Europe) – The Board of Directors of the EFSF Facility, which preceded the European Stability Mechanism (ESM), announced on Tuesday 19 July the abolition, for the period January-June 2022, of the step-up margin on interest rates applied to loans granted in 2012 to Greece. This measure will further reduce Greece’s debt service by €103.3 million. The ESM will also transfer €644.42 million to Athens, which corresponds to the profits made during six months by the European System of Central Banks on the holding of Greek debt (SMP/ANFA operations). This relief of €747.72 million was given the green light at the end of 2021 by the Eurogroup, which was satisfied with Greece’s fiscal discipline and continued reforms (see EUROPE 12847/25). Since 2012, Greek debt relief measures have amounted to around €5.7 billion. (MB)