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ESM

ESM Releases Last Bailout Tranche to Greece Worth €15B

Greece on Monday received a fifth and final multi-billion-euro payment ahead of the country's exit from its economic bailout scheduled for Aug. 20. The European Stability Mechanism (ESM) said it had disbursed €15 billion ($17 billion) to Greece which would cover spending...

Final Loan Installment to Greece 'in the Coming Days'

The European Stability Mechanism (ESM) said in a press release on Thursday that Greece's fifth and final loan installment from its adjustment program will be disbursed “in the coming days.” The ESM said its board approved on Wednesday the supplemental...

ESM Releases €1B to Greece After Reform Bill is Passed

A week before a crunch eurozone meeting for Greece, and on the same day Greek lawmakers passed a raft of economic reforms -- the so-called 'prior actions' the European Stability Mechanism (ESM) released to Athens a tranche of €1 billion...

House Multi-Bill Guarantees €25 Bln to ESM for Greece's Loans

Greek Finance Minister Euclid Tsakalotos (right) with ESM President Klaus Regling A clause by which the Greek State guarantees €25 billion for loans received by the European Stability Mechanism is included in the multi-bill submitted to the House for a...

Eurozone's ESM Postpones €1B Loan Tranche to Greece

A report claiming Athens has not made enough progress in clearing debt arrears is being blamed for a eurozone decision to suspend a €1 billion ($1.1 billion) loan to Greece. The board of the European Stability Mechanism (ESM) decided on Friday...

Europe Scrutinizes Greek Growth Plan as Bailout Exit Looms

International creditors will return to Athens on May 14 ahead of June's final decision on how to end Greece's economic bailout. Eurogroup finance ministers were meeting in Sofia, Bulgaria on Friday where Greece's growth and reform strategy was scrutinized as...

Gap Between EU-IMF over Greek Debt Remains

The International Monetary Fund and the European Union continue to disagree on the Greek debt relief issue, as was shown during the IMF and World Bank spring meeting in Washington. According to a Kathimerini newspaper report, the two sides attended...

Greece's Creditors Approve €6.7B in Bailout Funds

Greece's international creditors on Tuesday approved a huge €6.7 billion ($8.3 billion) tranche of bailout funds for the country's struggling economy. The Board of Directors of the European Stability Mechanism (ESM) said the move followed Athens' completion of a range of...

ESM Chief Says Greece May Need Less Credit than Expected

The head of the eurozone's European Stability Mechanism (ESM) bailout fund told a German newspaper that Greece was making good progress with its reform drive and it may not need as much credit as previously planned. "We are pleased that...

ECB's Nowotny: Turn ESM into European Monetary Fund for Greece's Bailout

Veteran European Central Bank policymaker Ewald Nowotny has backed turning the European Stability Mechanism (ESM) into a IMF-styled lender and for it taking over from the ECB in Greece's bailout programme. "The ESM might turn into a 'European Monetary Fund',...