The European Stability Mechanism (ESM) yesterday (10.03) approved the transfer of €555 million from the Hellenic Financial Stability Fund (HFSF) to the Greek state. The HFSF is a bank rescue vehicle that was used to recapitalize its main lenders. The country’s four top banks - National, Piraeus, Eurobank and Alpha - handed over this money in commissions following their recapitalization. The HFSF discussed the issue with the ESM over the weekend, agreeing that it is up to the Greek government to decide when it withdraws the sum.

The HFSF, funded by the country's EU-IMF bailout with €50 billion, recapitalized lenders with European EFSF bonds, which banks can still use as collateral for direct funding from the European Central Bank.