The head of the European Stability Mechanism (ESM) Klaus Regling estimated that Greece could return to the financial markets in 2017, provided that the Greek government keeps up with the reform program.
“We’ve assisted five countries during the crisis: Greece, Ireland, Portugal, Spain and Cyprus. Four of these are now success stories” Mr. Regling explained at a press conference held in Nicosia, adding that he expects “Greece can also begin to return to markets next year, if it continues to reform”.
Recently the ESM chief sided with Germany’s Finance Minister Wolfgang Schäuble, who has estimated that Greece will not face any problems from the public debt, for at least a decade. The IMF however insists that relief measures are necessary since the debt is unsustainable, with the German Minister claiming that the Greek economy is suffering from a lack of competition.