Klaus Regling

ESM greenlights Greece's request to repay expensive chunk of IMF loan

The boards of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) agreed on Monday to allow Greece to repay earlier a part of its expensive loan to the International Monetary Fund (IMF), without paying an equal amount to the two organizations.

Commission approves plan for bad loans

The European Commission on Thursday approved the Greek state's "Hercules" plan to reduce local banks' bad loans by up to 30 billion euros, and Deputy Finance Minister Giorgos Zavvos called on the country's lenders to utilize the project, making the most of the favorable market climate that cuts the cost of state collateral.

Distance with creditors is closing

The difference between the estimates of the government and the eurozone on Greece's fiscal gap in 2020 is constantly shrinking, with government sources now speaking of a difference amounting to just 350 million euros, down from 1 billion euros when the mission chiefs concluded their visit to Greece last month.

Staikouras to formally ask ESM to OK early IMF loan repayment

Finance Minister Christos Staikouras will present the priorities of the new Greek government at Friday's Eurogroup meeting before sending a letter to the European Stability Mechanism informing Greece's main creditor of Athens' intention to repay some of the loans from the International Monetary Fund ahead of schedule.

Pages