Greek reform review making progress, Regling says

An international review by creditors of Greece’s reform program is advancing and it could be wrapped up by May 1, the head of the European Stability Mechanism (ESM) rescue fund told the Swiss newspaper Neue Zuercher Zeitung.

“There is progress but it is too early to say when exactly the review will conclude,” Klaus Regling was quoted as saying in an interview, adding that the ESM assumed Greece would need “significantly less” than the 86 billion euros ($97 billion)being discussed for a third assistance program.

Regling said the reform program had to be strictly separated from the refugee crisis that has swamped Greece with migrants, and said he did not believe any more countries such as Ireland, Portugal or Spain would need to tap ESM resources.