The European Stability Mechanism (ESM)

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European Stability Mechanism

ESM's tranche delay shocks Athens

The European Stability Mechanism (ESM) decided on Friday to withhold the 1 billion euros outstanding from the third bailout review, destined for the repayment of state arrears to third parties.

The decision surprised the Greek government as both the European Commission and the European Central Bank had made favorable recommendations regarding the disbursement of the money to Athens.

'Still more work' needed by Greece to make economy resilient, says Regling

Greece has succeeded in consolidating fiscal deficits and implemented reforms, but it still needs to do "more work" to strengthen its economy, the head of the European Stability Mechanism (ESM), Klaus Regling, said in an interview with Spanish newspaper Cinco Dias, published on Thursday.

Greek debt relief plan linked to growth submitted by ESM and France, according to Handelsblatt

A plan to provide debt relief that will be linked to Greece's economic growth until 2050 has been submitted by the European Stability Mechanism (ESM) and France, according to a report in Germany's Handelsblatt newspaper.

German media says FDP to vote against Greek rescue tranche

Germany's liberal FDP party will be voting against the disbursement of the fourth tranche of bailout funding to Greece from its international creditors, Handelsblatt has reported.

According to the German paper, the liberals will be tabling a motion with the Bundestag's Budget Committee on Wednesday to "deny Athens disbursement of the fourth credit tranche."

EWG approves near completion of review milestones

Thursday's Euro Working Group meeting affirmed the implementation of the vast majority of prior actions concerning Greece's third bailout review, according to a eurozone source.

The senior officials of the eurozone's finance ministries were informed that there are still three milestones that remain pending from a total of 110, but they are not in the government's control.

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