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Tag Archives: ESM

When will Greece return to markets? ESM, Commission send conflicting messages

Greek government borrowing costs hit their lowest level in more than five years this week, investors speculate that Athens may soon end the exile from bond markets.  The Greek government signals return to the markets can happen already in summer 2017, short after creditors disburse the 7-billion euro bailout tranche …

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Creditors make it clear: No debt relief for Greece before 2018

Creditors have cooled down Greece that has been awaiting for debt relief measures. “Greece has done its bit, now it wants debt relief,” Prime Minister Alexis Tsipras said on Thursday, two days after the agreement with creditors on additional measures 3.6 billion euros for 2019 and 2020. However, the country’s …

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Greece needs Debt Relief: How much and at what price?

“Europe’s Greece problem, which brought the euro area to the brink of a breakup in 2015, is back in the headlines,” says Jeromin Zettelmeyer, economist at the Peterson Institute for International Economics.  And so is also the issue whether Greece can succeed without more debt relief. “Greece needs indeed more …

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Regling: Greece may need less than originally planned ESM funds

As the government in Athens used only €32 billion from the €86 billion prepared by the European Stability Mechanism, with less than half the program until the end it is clear the final figure will be smaller than the maximum, said Klaus Regling, the facility’s managing director. German daily Bild quoted him …

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ESM’s Regling: No need for 4. bailout, if Greece implements agreement

We work effortlessly to achieve an agreement with Greece and completed the second assessment together with the International Monetary Fund, the head of the European Support Mechanism (ESM), Klaus Regling said on Wednesday. Speaking at the European Parliament, Regling stressed that if Greece adheres to what has been agreed upon …

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Greece, go figure! IMF: Debt not sustainable ESM: Debt Sustainable

Is the Greek debt sustainable or not? Opinions and approaches differ. The International Monetary Fund insists that the Greek debt is not sustainable, the Eurozone’s Fund European Stability Mechanism insists that the Greek debt is sustainable. Greece has three weeks to deal with ‘potentially disastrous’ debt, the IMF said adding …

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ESM approves debt relief measures to bring Greece out of the woods in 2060

The Board of Directors of European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) approved short-term debt relief measures for Greece, Monday afternoon. “The measures approved by the governing bodies of the ESM and EFSF are an important step towards improving Greek debt sustainability,” Managing director Klaus Regling said and …

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ESM proposals could reduce Greece’s debt by a fifth in 2060

Confidential proposals drawn up by the eurozone’s bailout fund European Stability Mechanism could reduce Greece’s debt load by about a fifth in 2060. The six -page document, dated November 25th 2016, outlines measures that that could be taken in the near future to reduce Greece’s large debt load. According to …

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MNI European lenders & IMF in “political deadlock” over Greek dept

Greece’s European lenders and the International Monetary Fund are in political deadlock over the Greek debt. German news agency MNI reports of a secret meeting last Saturday in Washington where high-ranking representatives from European institutions (ECB, ESM and EU Commission) and Poul Thomsen from the IMF talked about the Greek …

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ESM Regling: “Varoufakis cost Greece 100 billion euro”

Head of the European Stability Mechanism Klaus Regling said that the cost for Greece for having Yanis Varoufakis as Finance Minister was 100 billion euro. In an interview to private Skai TV, Regling said that he estimates the cost for Greece to be 100 billion euro, “although there was no …

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Program Review concluded, ESM approves €7.5bn, Supplemental MoU with more measures

Greece passed the test “Program Review” with success, after the government completed all prior actions. Therefore the board of directors of the European Stability Mechanism (ESM) approved the disbursement of €10.3 billion. It is the second tranche of the third bailout. The first disbursement of  €7.5 billion, is expected to …

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