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Eurozone suspends Greece's debt-relief plan

The deal, agreed to just a week ago, reduces the interest burden on the country’s debts.

People withdraw cash from ATMs in central Athens on 19 June, 2015, as a beggar lays on the pavement. Picture: AFP.

LONDON – Eurozone lenders have shown their displeasure of Greek government policies by suspending their recently agreed debt-relief plan for the country.

The deal, agreed to just a week ago, reduces the interest burden on the country’s debts.

However, in a dramatic U-turn that’s now on ice because the Greek government plans to give poorer pensioners more money without consulting the lenders.

Greece is more than €300 billion in the red.

On 5 December a debt relief deal was agreed on to reduce the interest on those debts significantly.

However in return, Eurozone lenders have demanded oversight of all Greek government spending.

When it was announced poorer Greek state pensioners were to receive a pre-Christmas bonus costing R9 billion Eurozone lenders complained they’d not been consulted and froze the debt relief deal.

Festive cheer would appear to be in short supply.