ESM: Greek debt manageable
The Greek debt is manageable if the agreed reforms are fully implemented, responds European Stability Mechanism (ESM) after the leak of IMF’s report underlining in parallel that there is no reason for scaremongering over the Greek debt.
An ESM representative underlined that due to the discussion on the Greek debt after the leak of IMF’s report, ESM makes public its general remarks on the Greek debt.
“We believe that the Greek debt is manageable if the agreed reforms are fully implemented due to the very favourable lending ESM’s long-term conditions as well as to the short term measures for its relief which were recently adopted.
Greece and the Europeans agreed on an ambitious fiscal course during the period of the programme which is credible and is supported by emergency measures in case of unforeseen events.
Finally, Greece’s fiscal performance in 2016 was better than expected”.