The short-term measures on Greece’s debt that the European Stability Mechanism (ESM) is preparing will be presented at December’s Eurogroup, ESM’s Managing Director Klaus Regling said after the Eurogroup meeting in Brussels on Monday.
Regling said there’s been progress in preparing those measures but have not been completed yet and added that once they are implemented, they will have a positive result on Greek debt sustainability.
“It’s too early to talk about any details but we’ve made good progress,” he said. “It’s important to say that some of these measures means there could be additional cost upfront before one can have benefits later on … but then there should be savings in the longer-term. I’m optimistic that overall we can find solutions that will really have a visible, positive impact on Greek debt sustainability,” he added.