Greece reform review process is not easy, says Regling

The hope is the Greek review process will be completed by the end of this month so the government can begin discussing debt relief, he said

A review of Greek reforms required to release further financial aid to the debt-strapped country is ongoing but the process has been difficult, said the head of the European Stability Mechanism Klaus Regling.

“We are still reviewing, but it’s not easy. There is still a range of issues,” said Mr. Regling at a Council on Foreign Relations roundtable discussion.

He also added that the hope is the Greek review process will be completed by the end of this month so the government can begin discussing debt relief with its lenders, as Reuters reports.

Greece has an upcoming debt payment in July and the country would need aid for that, he stressed.

Head of ESM also said the government’s “implementation capacity has been slow, even though Greece has made some progress with its reforms. He described Greece’s implementation as the weakest in the European Union.

“But there has been no disagreement that reforms are needed in Greece,” he pointed out.