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ESM

European Stability Mechanism Approves Athens' Request for Early Repayment of IMF Loans

The European Stability Mechanism (ESM) on Monday approved an early partial repayment of Greece's outstanding loans to the International Monetary Fund (IMF). At the same time it will waive Greece's obligation to simultaneously repay the same proportion of outstanding loans...

Greece Officially Requests Early Repayment of Expensive IMF Loans

Greek Finance Minister Christos Staikouras signed the official letters on Monday in which Greece requests to pay back to the International Monetary Fund (IMF) part of the loans it received during the financial crisis. The letters will be sent to the...

New Book Reveals How Grexit Was About to Become Reality in 2015

A new book published on Thursday about the history of the European Stability Mechanism (ESM) reveals new details of how Greece's exit from the Eurozone was on the table for negotiations in 2015. Perhaps most surprisingly, this was the...

ESM Lauds Greek Economy's Achievements, Warns About Future Measures

The European Stability Mechanism (ESM) published its annual report for the year 2018 on Thursday. The European Institution praised Greece for its recent efforts strengthen the country financially, noting that 2018 was a landmark year for the country, mostly due...

Greece Challenges Creditors as PM Tsipras Vows to Lower Surplus Targets

Greece's European creditors reminded the Greek government of Alexis Tsipras that it has agreed to a primary surplus of 3.5 percent from 2020 to 2022. Their remarks were made after the Greek premier on Tuesday set the country's annual...

Billion-Euro Debt Relief Measures Approved for Greece

The Board of Directors of the European Financial Stability Facility (EFSF) approved on Thursday debt relief measures for Greece totaling almost one billion euros, the European Stability Mechanism said in a press release. The EFSF will reimburse the 103-million-euro step-up...

Greece Formally Requests Early Repayment of Expensive IMF Loans

The Greek Finance Ministry sent to the European Stability Mechanism (ESM) on Monday evening the government's proposal for the repayment of part of the loans Greece has received from the International Monetary Fund (IMF). There has not yet been an...

Germany Opposes Greek Plans to Repay IMF Loans Early, Report Says

The German Finance Ministry is believed to be opposed to Greece's plans to repay the country's loans to the IMF earlier than stipulated, the German paper Handelsblatt reported on Friday. The Greek Finance Ministry is planning to repay a sum of €3.8...

Regling: 'Not Enough Fiscal Space To Cancel Greece's Pension Cuts'

Klaus Regling, chief executive officer of the European Financial Stability Facility and Managing Director of the European Stability Mechanism (ESM), said in an interview on Tuesday that even though Greece will achieve a high primary surplus for 2018, this...

Greece Exits Final Bailout 'Successfully' (video)

Greece officially concludes its third bailout program with a successful exit, the euro zone’s ESM rescue fund said on Monday. “Today we can safely conclude the ESM programme with no more follow-up rescue programmes as, for the first time since early...