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
JOKER results: Sunday 17 June 2018Panos - Jun 17, 2018
The winning numbers from the JOKER draw on Sunday 17 June 2018 are as follows:
Lotto results: Saturday 16 June 2018Panos - Jun 16, 2018
The winning numbers from the Lotto draw on Saturday 16 June are as follows:
“Minos” weather front to affect most of Greece until Tuesdaymakis - Jun 15, 2018
A gradual deterioration of the weather is expected take start today and cover most of the country for the next…