Costello: Commission believes additional measures needed to make Greece’s debt sustainable

The European Commission believes that additional measures will be needed to make Greece’s debt sustainable, European Commission’s representative Declan Costello said on Sunday in the World Economic Forum held in Delphi.

However, European Stability Mechanism (ESM) head Klaus Regling had earlier left open the possibility of a Greek debt relief, but he stressed that this is not a priority right now.

According to Costello, the latest compliance report, prepared by the European Commission, as part of the third programme review, reviews the estimates for the sustainability of the Greek debt and confirms that additional relief measures should be taken.

Regarding the conclusion of the fourth review, he said that the beginning of the negotiations was positive adding that it is expected to be concluded in May or at the latest in June.

Moreover, he confirmed that the 5.7 billion euro loan tranche will be disbursed to Greece in mid-March.