“Iceland, Liechtenstein and Norway have decided to suspend payments of EEA (European Economic Area) grants to Greece until further notice. The decision is based on Greece’s failure to fulfill its obligations.
“The payments that are being suspended are related to the period 2004-2009. Approximately NOK13 million ($2.4 million) has been disbursed so far. The rest, which is approximately NOK235 million, will be frozen for the time being.
“The EEA grants are to be used to fund various projects designed to reduce economic and social disparities in Central and Southern Europe.
“Greece has undertaken to co-finance 50% of the cost of each project. This has not been followed up. Moreover, it is unclear whether all the funds that have already been disbursed to the Greek authorities have been transferred to the appropriate recipients.
“Norway cannot accept such breaches of the rules and has requested the Greek authorities to take care of the matter and to document how the funds have been spent.”
(source: Dow Jones Newswires)
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