Greece can return to markets in 2017 if reforms continue, ESM’s Regling says
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Greece can return to the markets in 2017, if it continues the economic reforms, the head of the European Stability Mechanism (ESM), Klaus Regling, said on Tuesday.
“We have helped five countries during the crisis: Greece, Ireland, Portugal, Spain and Cyprus. Four of them are now success stories,” Regling said at a conference in Nicosia, adding: “I expect that Greece, too, can begin to return to markets next year, if it continues to make reforms. ”
Regling also told reporters that short-term debt relief measures for Greece will be decided probably this year, saying there is progress in negotiations currently underway on the issue.
“The ESM has a mandate to look at short-term measures, which we do, and we will make proposals before the end of the year,” he said.
“There is quite a lot of agreement. We will not have a precise agreement on what to do in mid-2018 but on the short- term measures we will probably have decisions this year,” he said.
The short-term measures would aim to reduce the interest vulnerability of the Greek economy, he added. Regling said the medium-term measures on debt relief will be taken after completion of the current support program and could be followed by a long-term relief if Athens sticks to its reform program.