MOSCOW (Sputnik) — Greece will not receive the financial assistance under the European Financial Stability Facility (EFSF) as the program expires on June 30 without any new agreement, the European Stability Mechanism said on its website Tuesday.
"The Greek financial assistance programme of the European Financial Stability Facility (EFSF) expires tonight at midnight CET. As a result, the last EFSF loan tranche of €1.8 billion will no longer be available for Greece and the €10.9 billion in EFSF notes to cover the potential cost of bank recapitalisation or bank resolution in Greece will be cancelled," the ESM said in statement.
By midnight on Tuesday, Greece was due to transfer the next $1.7-billion repayment to the IMF, before the current aid package expires. However, earlier in the day Finance Minister Yanis Varoufakis said that Greece would not make the IMF payment.
