The European Stability Mechanism (ESM)

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European Stability Mechanism

Bonds cost more than the yields show

The Greek government may be celebrating the "low" interest rates with which it has tapped the international bond markets this year, but those rates - besides being the highest in the eurozone - entail an additional cost that constitutes the collateral for investors, particularly the long-term investing funds.

Regling: ‘No indication’ Greek gov’t will abandon primary surplus target

The Greek government has not indicated that it intends to walk away from the agreed primary surplus target of 3.5 percent go GDP, the head of the European Stability Mechanism (ESM) Klaus Regling  said in an interview with state-run broadcaster ERT late Wednesday.

Market not convinced over SPVs for Greek banks

Thursday's euphoria at local banks proved short-lived, despite the mobilization of the government and regulatory authorities, as the pressure on bank stocks returned on Friday - sending their sector's index down 1.78 percent - while experts say a bad bank might be preferable to the kind of asset protection scheme being prepared by the government.

Regling: Policy changes require green light from creditors

Greece can use this year's improved budget numbers to change policies, as long as the government discusses them first with the country's creditors, the Managing Director of the European Stability Mechanism (ESM), Klaus Regling, said in an interview with Dutch newspaper De Telegraaf, published on Tuesday.

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