ESM Head Regling warns Greece needs to pick up pace of prerequisites

12 February 2019
191 Views

European Stability Mechanism (ESM) Managing Director Klaus Regling said the rate at which Greece was implementing the necessary prerequisites was not satisfactory.

Mr Regling warned that there were gaps in the implementation of the pre-requisites linked to the release of 1 billion euros associated with the profits of the Greek bonds.

The German technocrat clarified at the end of the EuroGroup meeting that the disbursement of the tranche was dependent upon a “clear framework of actions”.

Regling said his caution was rooted in the fact that the implementation of the prerequisites in specific areas was not moving forward at a satisfactory pace.

“Greece still has a few weeks before the Commission report, there are open issues that we have identified, and the Greek Authorities are working hard with us, but I cannot tell you when it (the disbursement) will happen. It will be based on the developments”, the German official said.

You may be interested

EU citizens in the UK
GREECE
shares9 views
GREECE
shares9 views

EU citizens in the UK

Panos - Aug 21, 2019

The government and its latest Home Secretary, Priti Patel, has thrown the future of EU citizens in the UK into…

EU Commission Says it “Will Remain by Greece’s Side” One Year After Bailout Exit
FINANCE
shares16 views
FINANCE
shares16 views

EU Commission Says it “Will Remain by Greece’s Side” One Year After Bailout Exit

Panos - Aug 21, 2019

The European Commission issued a statement on Tuesday on the occasion of the one-year anniversary of Greece officially exiting its…

Greek Company Bringing Flavored Ouzo to the Market
FINANCE
shares14 views
FINANCE
shares14 views

Greek Company Bringing Flavored Ouzo to the Market

Panos - Aug 21, 2019

A Greek company which produces ouzo, has now combined the iconic Greek aperitif with different flavors, and it claims it…

Leave a Comment

Your email address will not be published.