The disbursement of the 7.5 billion euro loan tranche to Greece is an important moment both for the country and for Europe, the general manager of ESM Klaus Regling said at the Economist Conference in Athens.
“It is a recognition of the progress made by Greece to modernize its economy. It also shows that Europe will not leave Greece alone. Greece is a member of the European family,” Regling said adding that Europe will continue to show, if necessary, economic solidarity towards Greece. The remaining 2.8 billion euros, he said, will be given when Greece meets further prior actions and repays some of its overdue obligations.
The head of the ESM noted that the eurozone wants to continue to support Greece’s efforts with further measures to reduce its debt.