The funds relate to profits made as part of the European Central Bank’s security market program (SMP) for Greek bonds. Individual euro zone countries’ central banks had bought Greek bonds below nominal value but were paid in full when these bonds matured, reaping extra profits. 

According to a Eurogroup decision dating from July 8, Greece is to receive a total of €2 billion in 2013, as a rebate on the profits made by other euro zone central banks.

Greece received €1.5 billion on July 31. The remaining €500 million is to be given by the end of the year, according to Mr. Staikouras.  

This came to light in the minister’s written response to a parliamentary question tabled by main opposition SYRIZA MPs Ioannis Stathas, Dimitris Stratoulis and Panagiotis Lafazanis. The MPs had asked what actions the finance ministry had taken so that the Greek state receive from the ECB the sums it had earned by “profiteering from Greek bonds”.