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 on Sunday as saying the possibility that the International Monetary Fund joins the bailout scheme opens the door for a further reduction.
The basic European rescue funds may end up to be more than €10 billion smaller than estimated for the three-year program, according to Regling.
He noted Greece’s budget balance is improving and that the nation’s banks don’t need as much fresh capital. (teletrader)