ESM Head: Greece Should be Able to Borrow on Markets From Mid-2018

Greece should be able to borrow on international markets from the middle of 2018 if the bailout program is fully implemented, said the head of the European Stability Mechanism, Klaus Regling.

The euro zone rescue fund chief spoke to German newspaper Sueddeutsche Zeitung on an article published on Wednesday.

Regling said he expected that from mid-2018 Athens would “stand on its own feet and be able to get money on the markets by itself.”

However, Regling said that Greece must fulfill its bailout program obligations in order for that to happen: “If the next 18 months are used well, I’m optimistic that this is the last program that Greece will need to do.”

The ESM president also said that without the involvement of the International Monetary Fund in the program, no further loan tranches would be disbursed.

“If the IMF does not participate, it would not be consistent with what the governments have agreed with their parliaments,” Regling explained.