ESM’s Regling also cites prospect of Greece returning to markets in 2018
European Stability Mechanism (ESM) Managing Director Klaus Regling held talks with Greek leadership in Athens on Wednesday, before merely confirming that a recently approved next bailout loan tranche for Greece will be disbursed in early July.
He spoke during a meeting with Greek Finance Minister Euclid Tsakalotos.
Moreover, in echoing the latest “position paper” repeatedly cited by the coalition government in Athens over the past week or so, he also said the country could return to the markets for its borrowing needs in early 2018, “assuming there’s progress in terms of reforms and that the (bailout) program is fully implemented.”
The third consecutive bailout program (memorandum) ends in August 2018, which means that either with Euro zone support behind it or not, Athens will have to start borrowing from the markets to service its previous debts – while at the same time posting ambitious annual primary budget surpluses.
He later met with Greek Prime Minister Alexis Tsipras, who also referred to a foray into the markets next year.
Tsipras, who rode to power on a campaign platform that also vilified international money markets, said the target now is to regain market confidence and conclude the program by mid 2018, and thereby ending the lifeline offered by Regling’s ESM.
You may be interested
Turkish aircraft violated Greek airspace 42 timesmakis - May 20, 2019
Six Turkish aircraft violated Greek airspace a total of 42 times over the Northeast, Central, and Southeastern Aegean Sea. Three…
Weekend escapes near Athens!Panos - May 20, 2019
Chalkida: the town of “mad waters” There is a reference point, a place of attraction for Athenians and people from…
Syriac Christians see Turkey’s safe zone plans as an existential threatPanos - May 20, 2019
Syriac Christians, a religious group in Syria, reject the creation of a safe zone Turkey plans to establish in northern…