Eurozone Greek debt.

Greek debt relief plan suspended by Eurozone

The European stability mechanism [ESM] leader has suspended there is recently agreed for debt-relief plan for Greece.

The leaders of ESM not happy from Greek governments  plan to spend € 617 million for poor state pensioners as a Christmas Bonus. 

A spokeman for the ESM said that Greek government recent proposal to follow of spending additional funds resources and VAT, the governing bodies have put their decision on hold.

The debt relief agreement between Greek government and ESM was agreed on 5 December , it would reduce the interest rates on the country's debt.

This deal had cancelled due to unnecessary expenditure by Greek government .

Greek government's target are not desirable and are unrealistic without further economic reforms. The relief agreed by ESM minister to pay loan that had made more burden on Greek.

The moves that come as Athens and its International creditors which include the eurozone and the International Monestary Fund are struggling to conclude there Latest review of the countries rescue plan of as much as € 86 billions.

Eurogroup chief Jerome dijsselbpoem said ," The institutions have concluded that the Greek government appear to not be in line with our agreement" which is why Greek government is thinking upon it.