Regling: Greece would be out of crisis, if it had not gone off the rails in 2015

ESM head blames SYRIZA-ANEL government and ex-Finance Minister Varoufakis for current recession

Director of the European Stability Mechanism Klaus Regling said that Greece would have been out of there crisis in 2015 of the government under then Finance Minister Yianis Varoufakis had not taken the wrong path. In an interview to German newspaper Bild, Mr. Regling attributed the return of the Greek economy to recession to the policies adopted by the SYRIZA-ANEL government in the first six months of 2015, while he also dispelled any hopes expressed by Greece’s Finance Minister Euclid Tsakalotos regarding the outcome of the June 15 EuroGroup meeting. “Regarding the debt reduction, of course. Greece would want greater security early on. However, the EuroGroup made it clear in May of 2016 the path they want to follow. Everyone is bonded by that decision”, said Regling.

In another newspaper from Slovenia, “Dello”, Mr. Regling stressed that Greece could go to the money markers and ask for a loan of matters proceeded in the next months. “I hope am hoping we release the ESM tranche in June or early July based on the completion of the 2nd review of the Greek program”, he said. Commenting on whether the IMF would continue supporting the bailout program, the head of the ESM said that although the Fund was necessary at the start of the crisis with its technical know how, now the Europeans would be in a position to carry it out in the future without the IMF, adding however, that he expected the Fund would stay on board the current program.