European Stability Mechanism

ESM’s Fioretti: Turbulence in banking sector ‘probably’ no sign of new fiscal crisis

The recent turbulence caused by the collapse of Credit Suisse, Silicon Valley Bank and First Republic Bank will probably not mark a new fiscal crisis, Deputy Head of Financial Sector and Market Analysis at the European Stability Mechanism (ESM), Paolo Fioretti, told the Delphi Economic Forum on Thursday.

EFSF approves eighth reduction of step-up interest margin for Greece

The European Financial Stability Facility (EFSF) decided on Thursday to reduce to zero the step-up margin accrued by Greece for the period between June 17 and December 31, 2022, as part of the medium-term debt relief measures agreed for the country in 2018.

The value of this eighth reduction amounts to 122.5 million euros, it said in a statement.

Greece completes early repayment of bailout loans to IMF

Greece has repaid its outstanding debts dating back to its financial crisis to the International Monetary Fund, two years ahead of schedule, the country's finance minister said on April 4.

Christos Staikouras hailed the payment as "a very positive development" that would mean significant savings in debt servicing costs.

Klaus Regling: Greece has prospects for greater growth

Next week marks the 10th anniversary of the establishment of the European Stability Mechanism (ESM) on 2 February 2012.

The ESM is a child of the euro crisis, it was directly connected to the biggest debt crisis that Greece went through after the war and it reminds the Greeks of the most difficult moments of the last decade.

Eurogroup: Support measures, assessment report and debt on the table

The 10th post-memorandum evaluation report of the Greek economy is expected to be presented during today's Eurogroup meeting in Luxembourg, which will be attended by Finance Minister Christos Staikouras.

Therefore, Greece is expected to take another step towards a positive direction, as another evaluation is successfully completed.

Greece seeks ESM consent to repay part of IMF loans earlier

Greece has filed a request to the European Stability Mechanism (ESM), the eurozone's bailout fund, seeking its consent to pay back earlier expensive debt to the International Monetary Fund, government officials said on Wednesday.

The country has received three international bailouts from the eurozone and the IMF worth 280 billion euros since 2010.

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