Tag Archives: ESM

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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Greece could secure short-term debt relief measures “very soon” if it implements remaining reforms agreed under its bailout program, the head of the euro zone’s bailout fund, the European Stability Mechanism (ESM), Klaus Regling said on Saturday. “We have been working on them (short-term debt relief measures) and they could …

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The chief of European Stability Mechanism Klaus Regling wanted to send a positive message to Greece – and apparently did not know how. apparently he also did not want to be so …obvious and committed. So he picked up a newspaper with headquarters in South Korea and spread his message …

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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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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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I told you so a couple of days ago: whatever the question, Schaeuble’s answer is always NEIN! German Finance Minister Wolfgang Schaeuble confirmed me when he rejected the proposal of the European Stability Mechanism for Greece’s Debt Relief, capped interest rates and purchase of part of the Greek debt to …

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It is certainly a revolutionary proposal that expected to raise sharp criticism in Germany. Managing Director of the European Stability Fund Klaus Regling has reportedly brought a controversial 2-page proposal to the Eurogroup meeting on Monday. In his proposal, Regling offers that the ESM buy part of Greek debt to …

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The European Stability Mechanism has acknowledged that it is considering ways to grant debt relief to Greece, possibly by fixing the interest level at current low rates or by extending its maturities further. The ESM said in August 2015 that euro area finance ministers stood ready to consider, if necessary, …

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The International Monetary Fund is alive and kicking. And insists to apply its famous wrong “remedies” to the Greek problem, no matter what. The IMF’s representative in charge of the Greek program has arrived in Athens together with the representatives of European commission, the European Stability Mechanism and the European …

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Odd. It’s normally German Finance Minister Wolfgang Schaeuble who ‘announces’ plans for new Greek programs and additional loans. Apparently, this time, the Germans made an arrangement among themselves: That ESM chief, German Klaus Regling will bring the bad news. It’s logical, as Schaeuble tries to topple Chancellor Merkel and cannot …

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Greece’s European creditors gave the green light for the disbursement of the one billion euro in the context of the third bailout program. According to some news agencies, the creditors have already even “handed over” the one-billion-euro. The bailout tranche release has been made after creditors came to conclusion that …

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The Board of Directors of the ESM decided today to release €2.72 billion to Greece to recapitalise Piraeus Bank. This amount will be subtracted from the €10 billion held in a segregated account at the ESM and designated to cover the Greek banking sector’s potential resolution and recapitalisation costs, part …

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The borad of directors of the European Stability Mechanism approved the disbursement of 2 billion euro bailout tranche to Greece. In a statement issued Monday afternoon the ESM said that the money will primarily be used for debt service, as well as for arrears clearance, and co-financing projects funded by …

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Klaus Regling, the German managing director of the European Stability Mechanism played down Greece’s expectations for a large-scale debt write down. Speaking to the Financial Times, Regling said among others that Greece was already benefiting from generous loan terms that were the most concessionary “in world history”. “I think now …

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Efforts, compromise and total surrender to creditors brought fruits: The European Stability Mechanism approved the financial assistance for Greece on Wednesday,, the first disbursement of the first tranche arrived on Thursday and it was directly forwarded to the European Central Bank for the payment of 3.2 billion euro maturing today. …

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Greece sent Wednesday morning a letter to European Stability Mechanism requesting a 3-year loan in order to “meet its financial obligations” and “ensure stability of the financial system.” It is the 3. bailout Greece is going to receive since 2010 as austerity programs without provisions for growth have led to …

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In a letter sent today to Eurogroup head Jeroen Dijsselbloem, Greek Prime Minister Alexis Tsipras requests financial support from the European Stability Mechanism in form of two loans in order to serve Greece’s domestic and external debt and thus for the period of two years 2015-1027. In a two-page letter …

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Greece is one minute before 12. Midnight sharp we will not all turn into pumpkins but rather into default, should we believe local and foreign media. As the whole reporting about “Greece’s Doomsday” is strongly influenced by the pro or contra propaganda with regards to Referendum on upcoming Sunday, I …

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The Euro Zone is relieved. Germany’s Constitutional Court ruled in favor of the Euro Rescue Fund – European Stability Mechanism (ESM). However the judges limited Germany’s fund liability up to 190 billion euro unless the German Parliament decides to make more funds available. The court said that condition  for allowing the ESM-ratification was that any …

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