ESM Chief: Greece Will be Supervised After Bailout

Chairman of the European Stability Mechanism Klaus Regling. (By Aron Urb (EU2017EE) (Flickr) via Wikimedia Commons).

Greece will be under creditors‘ supervision after the end of the bailout program, as is the norm, Chairman of the European Stability Mechanism Klaus Regling said on Tuesday.

Speaking on SKAI television, the EU official said: “Greece will be under review after the end of the program, like the other countries that have accepted a program.

“It is a normal process that is most important in this case because Greece has got more money from ESM than other countries.”

Regarding the debt relief issue, Regling said that if there is any debt easing for Greece, this will happen under conditions:

“If there is additional debt relief, of course, the eurozone states and ESM will want to ensure that policies will remain healthy in return, that there will be no ignoring of agreed steps and measures.”

The ESM chief also reiterated the European position that any decisions will be taken after the successful conclusion of the Memorandum of Understanding in August. He also said Greece’s partners remain committed to supporting the country after the bailout program.