Central Banks’ Profits on Greek Bonds

An economy does not build endurance with triumphant declarations and self-deceptions, of the kind one has tragically witnessed in the recent past.

While the delay in disbursing the 1bn euro tranche will not impact directly on the economy it sends a strong signal to Athens about the inadvisability of unilateral fiscal moves.

Regling said there are pending issues which Greece must handle before the release of the fiscal surveillance report, on 27 February.