ESM
Economy
ECB, IMF, ESM and European Commission Release Joint Statement on Greek Program
The European Commission, the European Central Bank (ECB), the International Monetary Fund (IMF) and the European Stability Mechanism (ESM) released a joint statement on Thursday on the Greek program and debt sustainability:
"The institutions and the Greek authorities have made important...
Economy
ESM's Klaus Regling Confident That the IMF Will Remain in the Greek Bailout Program [video]
The head of ESM Klaus Regling, expressed his expectation that the IMF will remain in the Greek bailout program, speaking to Bloomberg on Wednesday.
In addition, Regling announced that it is impossible to clarify who is right in the predictions...
Economy
Lagarde Agrees with Tsakalotos on Return of Negotiators to Greece
The Chief General of the International Monetary Fund has announced the return of the institutions and creditors' representatives to Greece, following several discussions she had with Greek Finance Minister, Euclid Tsakalots and other factors of the negotiation.
Lagarde and Tsakalotos have...
Economy
Prokopis Pavlopoulos: ESM Should Take Over IMF
The recent publication by Wikileaks, revealing a conversation between IMF officials Poul Thomsen and Delia Velculescu, has caused intense reactions in Greece.
In a phone conversation between PM Alexis Tsipras and President of Democracy Prokopis Pavlopoulos, the latter demanded that...
Economy
ECB 'Hasn’t Reached Lower Bound' On Rates and Absence of a Banking Union Blocks Greek Debt Restructuring Says Its Chief Economist
The European Central Bank “hasn’t reached lower bound” on rates, said Executive Central Bank’s chief economist and Member of Its Executive Board Peter Praet in an interview with La Repubblica published today.
This statements comes a week after ECB president...
Economy
Greece May Need Less Than 86 Billion Euros, Says Klaus Regling
There will be no shortage of funds for Greece if it proceeds with reforms, said Klaus P. Regling, Chief Executive Officer of the European Financial Stability Facility and Managing Director of the European Stability Mechanism in an interview to...
Economy
Eurogroup's Dijsselbloem: Institutions to Return to Athens 'Possibly Tomorrow'
Eurogroup President Jeroen Dijsselbloem said the institutions will return to Athens “possibly tomorrow” to complete the first review of Greece’s adjustment program.
Speaking after the Eurogroup meeting at a joint press conference with European Commissioner for Economic and Financial Affairs,...
Economy
A Matter of Time Before Greece Needs Yet Another Bailout Plan, Says Klaus Regling
If there were any illusions as to whether the new bailout agreement will sort out for good Greece's financing needs and put the economy back on track, comments made recently by the European Stability Mechanism (ESM) Managing Director Klaus...
Economy
S&P Raises Greece’s Credit Rating to B- from CCC+, Stable Outlook
On Friday, Standard & Poor's raised its long-term sovereign credit rating on Greece to 'B-' from 'CCC+', with a stable outlook, citing the country's compliance with its economic program.
"The upgrade reflects our assessment that the Greek government is broadly complying...
Economy
S&P Says Successful Implementation of Greek Program Could Lead to Credit Rating Upgrade
Greece's credit rating could be upgraded to B, from CCC+ after completion of a first review of the Greek economic adjustment program, disbursement of loans according to a ESM schedule and probably combined with an ECB decision to begin...