  Ternary iron phosphide EuFe$_2$P$_2$ with ThCr$_2$Si$_2$-type structure has
been systematically studied by the measurements of crystal structure,
magnetization, M\"{o}ssbauer effect, transport properties and specific heat.
The structural refinement result confirms no direct P-P covalent bonding. The
M\"{o}ssbauer spectra indicate no magnetic moment for the Fe atoms and, that
the Eu ions are divalent in the whole temperatures, carrying local moments of
$S$=7/2. The Eu$^{2+}$ spins order ferromagnetically at $T_C$=29.5 K, followed
by a possible helimagnetic ordering below $T_{HM}$=26 K, where the Eu$^{2+}$
moments tilt a little from the c-axis. External magnetic field increases $T_C$
gradually, but suppresses $T_{HM}$ rapidly. (Magneto)resistivity data indicate
characteristic dense Kondo behaviour above the Curie temperature. The result is
discussed in terms of the interplay between intersite RKKY and intrasite Kondo
interactions.
