European Stability Mechanism

Greece does not need to tap ESM credit line, says FinMin

Greece has no need to tap the eurozone's pandemic credit line at present, Finance Minister Christos Staikouras said on Friday.

"Based on current data, Greece does not need to resort to the ESM's (European Stability Mechanism) credit lines since the government has made and continues to make prudent use of the country's own resources," he told an Economist conference.

Greece’s debt growing but ‘manageable,’ says ESM chief Klaus Regling

Greece's debt is "going up" but is "manageable" coming out of the double debt and health crisis because its annual servicing cost is much lower than in many other countries, the head of the European Stability Mechanism, Klaus Regling, said in an interview published on Tuesday.

Eurozone govts agree on cheap loans for countries hit by pandemic, sources say

Eurozone finance ministers agreed on Friday to offer cheap credit lines that can be tapped until the end of 2022 by countries hit by the coronavirus pandemic, two European officials said.

"All agreed. The program can be used until the end of 2022," one of the officials said.

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