The Managing Director of the European Stability Mechanism (ESM) Klaus Regling warned that the debt relief measures for Greece would be suspended in the event Greece failed to continue implementing the agreed adjustment measures.
In an interview with the Austrian newspaper “Die Presse” and under the reporter’s pressing questions about the Greek government’s financial promises ahead of the 2019 general elections, following the end of the bailout programme, Mr. Regling was clear: “Greece must continue the reforms. We are very patient creditors.
But we can stop the debt relief measures that have been decided for Greece if the adjustment programs do not continue as agreed. I am optimistic after my most recent talks with Prime Minister Tsipras. The level of debt may seem terribly high, but Greece can live with it, as maturing loans are longterm and loan rates are much lower than in most other countries ”
Mr. Regling repeated once again that in 2015 Greece was on the brink of a Grexit.