Eurogroup and ESM put short-term debt relief measures on hold

15 December 2016
82 Views

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

Nearly 1,500 refugees passed into Greece in August
GREECE
shares122 views
GREECE
shares122 views

Nearly 1,500 refugees passed into Greece in August

makis - Aug 18, 2017

The number of refugees and illegal migrants that have landed in the Greek islands of the northern Aegean Sea have…

Father arrested after prostituting daughter for 5 euros
GREECE
shares105 views
GREECE
shares105 views

Father arrested after prostituting daughter for 5 euros

makis - Aug 18, 2017

A father was detained by police after it was revealed that he had been allegedly prostituting his 14-year-old girl on…

Greece does not recognise communist regime crimes
GREECE
shares98 views
GREECE
shares98 views

Greece does not recognise communist regime crimes

makis - Aug 18, 2017

The Greek government declined to take part in an international conference that denounces crimes committed by communist regimes. The Greek…

Leave a Comment

Your email address will not be published.