ESM

German Parliament Approves Greek Bailout Deal Negotiations

The German Parliament authorized the German government on Friday to engage in negotiations for a European Stability Mechanism bailout program for Greece. 439 lawmakers voted Yes, 119 voted No and 40 abstained. 50 lawmakers from German Chancellor Angela Merkel’s CDU/CSU coalition...

Finland Authorizes Govt to Engage in Bailout Negotiations and Bridge Financing for Greece

Greece is on track to begin negotiations on a third bailout package. Finland, one of Greece’s most hardline negotiating partners during the past weekend, authorized its government to engage in negotiations on the European Stability Mechanism (ESM) bailout package for Greece as well...

ESM's Regling Warns of Greek Banking System Collapse Without Third Bailout

European Stability Mechanism (ESM) head Klaus Regling has warned of a collapse in the Greek banking system if the country does not secure a third bailout, saying this would have consequences for the entire Eurozone. "If everything fails, then the Greek...

Legislation for Bailout Deal Submitted to Greek Parliament

The legislation for the deal between Greece and its international creditors for a European Stability Mechanism (ESM) package was submitted to the Greek Parliament on Tuesday evening with an urgent status. The legislation is composed of two articles. One contains the agreement reached during the...

Greece Eurogroup Inconclusive; Will Reassess on Sunday

Saturday's crucial Eurogroup meeting, where finance ministers discussed the newly submitted Greek bailout proposal, has been inconclusive. The Eurogroup will meet again on Sunday at 11 am, just five hours before a decisive Euro Summit. The Eurogroup held an in-depth...

New Democracy Leader: 'Bring a Deal by Sunday so that Greece Can Stay in the Euro'

Greek main opposition New Democracy leader Evangelos Meimarakis told parliament during the debate on the draft bill for the “Negotiation and Achievement of a Loan Agreement with the European Stability Mechanism (ESM)” that the Greek government has to bring...

Institutions Review the Greek Proposals

International Monetary Fund Managing Director Christine Lagarde, European Central Bank President Mario Draghi, European Commission President Jean Claude Juncker and Eurogroup President Jeroen Dijsselbleom held a phone conference on Friday to discuss whether the proposals submitted by the Greek...

Evaluation of Greek Proposals to Be Completed on Friday Night

The institutions received the Greek government's letter with proposals and prior actions on time, stated a Eurozone official, refusing however to give an estimation on the letter's context. According to the same official, the European Commission, the European Central Bank...

Greek Govt Agrees on Final Bailout Proposals

Greece has now almost completed every official step it needs to reach an agreement with its international creditors. The SYRIZA-ANEL coalition government agreed on Thursday evening on the final proposals it will send to creditors for the ESM bailout program. Defense Minister and Independent...

ESM Wants Assessment of Greek Request from ECB and European Commission

A leaked document that is allegedly the letter sent by European Stability Mechanism (ESM) Board of Governors Chairperson Jeroen Dijsselbloem to the European Commission and the European Central Bank (ECB), is asking them to examine the Greek request for...