ESM Head: Greece could be the next success story
The Head of the European Stability Mechanism (ESM), Klaus Regling said Greece should continue the reforms until the completion of the current bailout programme, urging the country to maintain and expand the reforms beyond the programme.
He added that Greece could also become a “success story” like other countries where ESM programmes had been implemented.
His statements were made during his meeting with Greek PM Alexis Tsipras in Athens, Tuesday.
“There’s a commitment from the Eurogroup to provide more debt relief for Greece if needed when the programme ends, and if Greece has met all the programme conditions”, he said.
On his part, Greek PM Tsipras said he felt like a chess player engaged in multiple matches at the same time as extremely sensitive moves were required.
Shut out of markets in 2010, Greece is due to exit its third bailout program in August and hopes thereafter to rely solely on bond markets to cover its borrowing needs.
Greece, with the highest debt-to-GDP ratio in the 19-nation euro zone at 179.8 percent, was the recipient of the biggest sovereign rescue package in history.
You may be interested
How Productive is an Hour of Work (where is Greece)? (infographic)Panos - Jun 17, 2021
Figures from the OECD reveal the countries in which the average hour of work contributes the most to GDP. As…
Biden’s blunder as he confuses Putin with Trump (video)Panos - Jun 17, 2021
The American president Joe Biden’s blunder after the meeting with his Russian counterpart, Vladimir Putin, in Geneva has gone viral. It…
How the Hellenic Navy tricked a Turkish corvette trying to stop a live fire exercise (photos)Panos - Jun 17, 2021
The Turkish corvette Baykoz, which had departed from the Aksaz Turkish Navy Base opposite of Rhodes and was sailing west…