European Stability Mechanism

A senior European Union official told Reuters that there is a 20 to 30 percent chance of success for the three year European Stability Mechanism bailout program that Greece and its international creditors will begin negotiating. Greece and its creditors agreed on the conditions of...

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...

Greece is on track to begin negotiations on a third bailout package. Finland, one of Greece’s most hardline negotiating partners during the past weekend, authorized its government to engage in negotiations on the European Stability Mechanism (ESM) bailout package for Greece as well...

European Stability Mechanism (ESM) head Klaus Regling has warned of a collapse in the Greek banking system if the country does not secure a third bailout, saying this would have consequences for the entire Eurozone. "If everything fails, then the Greek...

The legislation for the deal between Greece and its international creditors for a European Stability Mechanism (ESM) package was submitted to the Greek Parliament on Tuesday evening with an urgent status. The legislation is composed of two articles. One contains the agreement reached during the...

Greek main opposition New Democracy leader Evangelos Meimarakis told parliament during the debate on the draft bill for the “Negotiation and Achievement of a Loan Agreement with the European Stability Mechanism (ESM)” that the Greek government has to bring...

The institutions received the Greek government's letter with proposals and prior actions on time, stated a Eurozone official, refusing however to give an estimation on the letter's context. According to the same official, the European Commission, the European Central Bank...

Greece’s request for a loan from the European Stability Mechanism (ESM) is currently being reviewed by Eurozone technical experts in the Euro Working Group, according to Reuters. However, it was announced that there will not be a conference between...

The Greek government made a formal request to the European Stability Mechanism asking for a bailout program to help pay its debts and bring its crisis-stricken economy back from the road to bankruptcy. The European Stability Mechanism, Europe's financial rescue...

A bridge program that will cover Greece's financial needs for July has been discussed by European Commission President Jean-Claude Juncker and the president of the socialists in the European Parliament, Gianni Pittella. The bridge deal will precede the third bailout program...