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ESM

The 38 'Hot' Measures Required for Greece's Bailout Agreement

The Greek government tabled a new draft bill in parliament that includes several painful measures and reforms, required for Greece's third bailout deal. The government filed the "Draft Agreement for Financial Assistance from the European Stability Mechanism and adjustments for the implementation of...

Mature Pension Rights will Not be Affected, Say Labor Ministry Sources

Pension rights which have been secured by June 30, 2015 will not be affected by the new agreement between the government and Greece’s lenders and this is something which the institutions have accepted, Labor ministry sources said, after a...

Greek Labor Minister Holds Talks with Creditors' Representatives

The aim of the Greek side is to reverse the deregulation of the five-year Memorandum policy, Labor Minister Giorgos Katrougalos said on Monday after a meeting with representatives of the European Central Bank (ECB), the European Commission, the European Stability...

European Commission: IMF 'Fully Participating' in Greek Program

The International Monetary Fund (IMF) is present and fully participates in the negotiations for Greece's third program, European Commission spokeswoman Mina Andreeva said. Asked about the non-participation of the IMF in the Greek program until necessary measures for debt relief are...

Creditors' Represenatives in Athens Continue Talks But Timely Deal Uncertain

The creditors' representatives took over negotiations from technical teams in Athens but it is uncertain whether Greece will secure a bailout agreement by August 20. With SYRIZA struggling for unity as almost one third of MPs are against the proposed bailout deal,...

Creditors' Technical Experts Arrive in Greece to Restart Negotiations on Third Bailout

Representatives from the European Central Bank (ECB), the European Commission, the International Monetary Fund (IMF) and the European Stability Mechanism ESM) have arrived in Athens, Greece, in order to restart negotiations regarding the country’s much needed third bailout program. Shortly...

Greek Bailout Talks Expected to Start Tuesday

Greece will start talks with its international creditors over a new bailout package on Tuesday, while the mission chiefs will arrive in Athens with a couple of days delay for technical reasons. "The reasons for the delay are neither political...

President of Bundesbank: Debt Extension Proposal too Late for Greece

The president of Germany's Bundesbank says there can be a three-year extension on the maturities of a country's bonds if it requests a European Stability Mechanism bailout program. But the president says that it's too late for Greece to...

The Institutions Return to Athens

The institutions, formerly known as the Troika, are back in Athens. Representatives of the European Central Bank (ECB), the European Commission  the International Monetary Fund (IMF) have returned to Greece. This time, however, there will be a fourth organization delegating officials in...

ESM Approves Commencement of Greek Bailout Deal Negotiations

The European Stability Mechanism (ESM) Board of Governors decided on Friday that it approves -in principle- a loan program for Greece. This effectively means that the institution agrees that negotiations on the bailout deal should begin. The three-year cash-for-reforms program will give Greece...