Eurogroup and ESM put short-term debt relief measures on hold
The spokesperson for the Eurogroup President Michel Reijns announced that the institutions have concluded that the actions of the Greek government do not appear to be in line with existing agreement and that certain EU member stated cannot agree on the implementation of short term debt relief measures. As such the measures are out on hold, while the Eurogroup awaits a full report from the institutions in January.
Earlier the European Stability Mechanism (ESM) and the European Financial Stabilization Mechanism (EFSF) also announced that they are putting on hold the implementation of a short-term debt relief deal for Greece, in light of the recent proclamations of the Greek government.
“Following recent proposals by the Greek government to spend additional fiscal resources for pensions and VAT our governing bodies have put their decisions temporarily on hold. Institutions are currently assessing the impact of Greek government decisions vis a vis the ESM program commitments and targets. The directors and governors of EFSF and ESM will then analyze the institutions’ assessment and subsequently decide how to proceed” the ESM spokesperson noted.
You may be interested
Coronavirus Greece: Four new cases, one fatality & 18 intubatedmakis - May 25, 2020
Professor Sotiris Tsiodras announced four new cases of the coronavirus in our country in the last 24 hours. The total…
Berlin Church opens to Muslims for prayerPanos - May 25, 2020
A church in Berlin has opened its doors to Muslim worshippers unable to fit into their mosque under new social…
Cafes, restaurants reopening with strict safety rulesPanos - May 25, 2020
Greece’s cafes and restaurants are reopening for business on Monday following a long hiatus, as they closed just over two…