The third review could be concluded soon, said European Stability Mechanism (ESM) Managing Director Klaus Regling in an interview with German newspaper “Handelsblatt”. “After significant delays in the first two reviews, we feel encouraged by the preparation of the Greek side in view of the third review. As long as the Greek government continues its good job, the disbursement of the next tranche will take place in the beginning of 2018”, stated Mr. Regling.
When asked about how the rest of the money could be used, given that not all 86 billion euros of the program are likely to be needed, Mr. Regling answered that part of the money could be used to settle Greek debts owed to other creditors. Replacing more expensive loans with cheaper ESM loans will help Greece’s debt to become sustainable, added the ESM Managing Director.
Translation: Eleni Gogou