Klaus Regling

Greece's gross domestic product would have been cut in half if the financial crisis had been followed by a Greek exit from the eurozone in 2015, according to the head of the European Stability Mechanism, Klaus Regling.

The fact that Greece pays an interest rate of only 1.17 percent for its 10-year government debt is a sign that the country is now implementing a credible policy, the head of the European Stability Mechanism (ESM) Klaus Regling said in an interview published Wednesday.

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.

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.

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.

Finance Minister Christos Staikouras sent a letter on Monday asking the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF) to approve the repayment of the expensive part of Greece's loan from the International Monetary Fund before it is due.

European Stability Mechanism (ESM) chief Klaus Regling indicated on Friday that Greece's lenders may consider reducing the country's high primary surplus targets if it can overshoot growth goals after 2020.

European Stability Mechanism (ESM) chief Klaus Regling has indicated that Greece's lenders may consider reducing high primary surplus targets if the debt-laden country can overshoot growth targets after 2020.

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.

The government is determined to change the heads of the state property manager, the Hellenic Corporation of Assets and Participations (HCAP), and its subsidiary, the Hellenic Republic Asset Development Fund (TAIPED), charged with attracting foreign investors in the privatization of some of those property assets, over their handling of the privatizations and the dismal financial situation at ele