ESM Sec-Gen Janse cites very low interest rates for loans to Greece
The European Stability Mechanism (ESM) and European Financial Stability Fund (EFSF) have “locked” the current low interest rates for certain long-term bond issues, a development that benefits Greece, ESM secretary general Kalin Anev Janse was quoted by the German news agency MNI on Friday.
Janse also said that Greece today is paying interest on loans of less than one percent, a figure much lower than the rate slapped by the IMF.
Janse said the ESM has calculated that with the very low rates offered by the mechanism Greece saves up to eight billion euros a year, or 4 percent of GDP, from the specific borrowing scheme, if compared with the rates that would have been available from the markets.
You may be interested
Cypriot spokesperson: “Erdogan’s claims on Lausanne Treaty not in the right direction”makis - Dec 08, 2017
The Cypriot government’s spokesperson, Nikos Christodoulides, stated that the sayings of the Turkish President Recep Tayyip Erdogan on the Lausanne…
Parts of Greece to see snow and heavy rainfall over weekendmakis - Dec 08, 2017
The Greek Meteorological Services (EMY) released an emergency weather bulletin warning of a sudden deterioration over the weekend. Heavy rainfall,…
Middle East up in flames after Trump’s decision over Jerusalemmakis - Dec 08, 2017
Protests swept across the Middle East ager US President Donald Trump officially recognised Jerusalem as the capital of the state…