The president of European Stability Mechanism, Klaus Regling, stated that “There is no political mood in the EU or the IMF for a Greek debt haircut” when talking to foreign journalists at ESM’s offices in Luxembourg, according to Kathimerini newspaper.

The Greek debt relief is more likely to come in the form of stretched maturities and slightly reduced interest rates, Regling said stressing that creditors were in no rush.

“We are not even sure there is indeed a need for such small interventions,” Regling stated.