Tag Archives: ESM

HURAAH! HURRAH! The European Stability Mechanism approved the third bailout tranche of €8.5 billion new loan to Greece. The large part of the ESM financial assistance, €7.7billion,  is expected to be made by the ESM on Monday. The rest €0.8 billion may be made after 1 September 2017 provided Greece …

Read More »

The Board of Governors of the European Stability Mechanism (ESM) approved on Wednesday, the Supplemental Memorandum of Understanding (MoU) with Greece in a meeting via teleconference. This follows the conclusion of the second review of the ESM programme for Greece. The Supplemental MoU is a document updating the reform commitments …

Read More »

Representatives of Greece’s rescue creditors said the country is on target to regain access to bond markets by the end of the year and exit the bailout program next summer. Officials from the European Commission, European Central Bank, and the European Stability Mechanism fund said a major round of austerity …

Read More »

Greece will need to pay 1.6billion euro from its own pockets in order to be able to receive 800 million euros from the bailout trance. The Pending 8.5-billion-euro loan tranche approved by the Eurogroup on June 15, will be disbursed in two installments, European Stability Mechanism (ESM) Managing Director Klaus …

Read More »

President of European Stability Mechanism, Klaus Regling, made an important forecast. He said he considered possible that Greece will return to the markets by end of 2017 or in 2018. “It is most likely that Greece will return to the markets by the end of the year or in next …

Read More »

Opponents of Greek debt relief claim there will be an extra financial burden on Eurozone member states and their taxpayers. This is not true, says Eric Dor, Director of Economic Studies at IESEG School of Management in Lille, France. Below Eric Dor’s position Why a lengthening of the maturities of …

Read More »

The Lord’s ways are known to be mysterious. But creditors’ ways are beyond any limit innovative. Especially when it comes to block any loan or any promised debt relief to indebted Greece. Despite the many projections and forecasts and prior actions, in the back of  creditors’ head, which is Wolfgang …

Read More »

Hardly has the Greek government passed through the Parliament the new package of tough austerity 4.9 billion euros with the hope to finally get a debt relief, and Germany set out again to kill the disturbing Greek fly. There will be neither debt relief nor extension of debt repayment is …

Read More »

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 …

Read More »

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 …

Read More »

“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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

German Finance Minister Wolfgang Schaebule is preparing the continuation of the Greek aid even without the participation of the International Monetary Fund. According to German daily BILD, the gap resulting from the absence of the IMF should be filled by the European Stability Mechanism. Unnamed sources told Bild, that the …

Read More »

Greek Finance Minister Euclid Tsakalotos made a written pledge to the country’s lenders that the recent social measures will not be implemented again. At least not without previous consultations with the lenders. The Christmas bonus to low-pensioners and the the freeze of Value Added Tax hikes in islands hit by …

Read More »

Ero zone officials hit back at the International Monetary Fund on Tuesday for publishing an article on the way forward for Greece’s fiscal and economic policy that thrust into the open a row between the lenders over Athens’ bailout. The post of IMF’ Poul Thomsen blaming both the European creditors …

Read More »

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 …

Read More »

Debt Relief? What Debt Relief? There is no problem with Greece’s debt. Head of Erupean Stability Mechanism, German Klaus Regling side with German Finance Minister Wolfgang Schaeuble and said very clear: There will be no problem with the Greek debt for at least a decade. “In the short-term, there’s no …

Read More »