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ESM

ESM: Third Greek Bailout Likely to Be Smaller Than Planned

Greece’s third bailout loan from the Eurozone might ultimately be less than originally estimated. The European Central Bank announced the official Greek banks’ stress test results on Saturday, noting that the Greek banks’ need for recapitalization is less than...

ESM: 'Greece Must Implement Reforms Before Receiving Any Installments'

Rolf Strauch, a board member of the European Support Mechanism (ESM) spoke about the implementation terms of Greece’s new bailout package in an interview with Austrian newspaper Die Presse. Strauch stressed that reform forces dominate the new Greek parliament, noting...

Varoufakis: Tsipras was Disappointed by Referendum 'No' and Surrendered

Former finance minister Yanis Varoufakis said that Alexis Tsipras was disappointed by the "no" in the July referendum and decided to surrender. Varoufakis spoke on new Deutsche Welle television show Conflict Zone on Wednesday, a few days before Greek elections....

ESM's Klaus Regling Talks about Greek Debt in Interview with 'Delo'

The head of the European Stability Mechanism (ESM) Klaus Regling on Wednesday appeared confident that the ESM will not be greatly affected by the results of upcoming elections in Greece, despite having massive holdings in Greek debt. In an interview...

Head of the ESM Believes IMF Will Be Part of Greek Bailout

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...

Greece Makes 3.2-Billion-Euro Payment to the ECB

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...

New Democracy Criticizes Greek PM for Focusing on Intra-Party Problems

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,...

Tsipras Requests European Parliament Involvement in Greece's Loan Review

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...

ESM Loan to Greece Officially Approved

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...

Eurogroup President Welcomes Agreement with Greece on 3-year Aid Program

Eurogroup President Jeroen Dijsselbloem announced on Friday night the achievement of a final deal on the new, three-year aid program for Greece, saying it will achieve sound public finances and safeguard the banking sector. "It is a comprehensive and ambitious reform...