Rolf Strauch, a board member of the European Support Mechanism (ESM) spoke about the implementation terms of Greece’s new bailout package in an interview with Austrian newspaper Die Presse.
Strauch stressed that reform forces dominate the new Greek parliament, noting that SYRIZA’s left-wing who voted against the 86 billion euro bailout package (Popular Unity) failed to enter the Parliament after the recent elections.
He also clarified that the European Support Mechanism will pay the loan installments to Greece, only after the country implements its reforms. “This program’s unique feature is that Greece has already implemented reforms before the negotiations about the program,” he said. However, he added that the Greek government will have to implement further reforms during the three-year program period.
“The first bailout package review is set to take place in October. Until then, the government must implement reforms to the pension system,” he said.
– See more at: http://greece.greekreporter.com/2015/09/26/esm-greece-must-implement-reforms-before-receiving-any-installments/#sthash.BhngPYyo.dpuf