European Stability Mechanism

Eurozone officials addressed the progress of the Greek bailout and its future, following a Eurogroup meeting in Brussels on Monday. Eurogroup President Jeroen Dijsslebloem noted that the design of the second stage of the bailout package had been agreed...

The European Stability Mechanism's (ESM) Board of Directors authorized the disbursement of 2 billion euros to Greece, following the country’s completion of the first set of prior actions as demanded by creditors. In the ESM's announcement it is mentioned...

Greece has been assessed as having CCC's Issuer Default Ratings for its long-term foreign and local currency, Fitch Ratings in London announced in a release. Fitch explained that Greece's financial assistance program with the European Stability Mechanism of up to...

Greece has until the end of the week to resolve the pending issues required for the first review of the bailout program that would unlock further financial aid and funds for bank recapitalization. "We await the finalization of all the...

The head of the European Stability Mechanism Klaus Regling said he believes the International Monetary Fund will participate in the third Greek bailout, during a conference in Ljubljana, Slovenia on Monday. “It has not been defined to what extent the IMF...

International Monetary Fund official Poul Thomsen said that elections will cost Greece the delay of the next bailout tranche disbursement and deprive the market of 800 million euros in liquidity. Thomsen briefed the IMF board of directors on the Greek...

Greece made a 3.2-billion-euro payment to the European Central Bank (ECB) on Thursday. Reuters cited an anonymous Greek government senior official who was quoted as saying that "the payment was made, the funds are on their way." The money for this payment came from the...

Greek main opposition New Democracy criticized Prime Minister Alexis Tsipras on Wednesday for busying himself with his party’s internal problems instead of focusing on Greece’s woes. "While European parliaments were voting to approve Greece’s funding and the ESM installments were pending,...

In a letter to European Parliament President Martin Schulz, Greek Prime Minister Alexis Tsipras requested on Wednesday the addition of the European Parliament in the regular review process of the country’s loan agreement. "I am sending you this letter to request the direct and...

The European Stability Mechanism (ESM) 86-billion-euro loan to Greece was approved during a teleconference on Wednesday evening. The decision came after the Eurogroup approved the third Greek bailout package last Friday and the Eurozone countries officially ratified the bailout this week, with...