Kl. Regling: Short-term debt relief measures for Greece will be decided probably this year

Short-term debt relief measures for Greece will be decided probably this year, the head of European Stability Mechanism, Klaus Regling said on Tuesday.

Speaking to reporters, Regling said there is progress in negotiations currently underway on the issue. “The ESM has a mandate to look at short-term measures, which we do, and we will make proposals before the end of the year,” he said.

“There is quite a lot of agreement. We will not have a precise agreement on what to do in mid-2018 but on the short- term measures we will probably have decisions this year,” he said.

The short-term measures would aim to reduce the interest vulnerability of the Greek economy, he added. Regling said the medium-term measures on debt relief will be taken after completion of the current support program and could be followed by a long-term relief if Athens sticks to its reform program.