ESM's Klaus Regling says they'll pony up around €50bn to Greece in 3rd bailout - Schaeuble lays down the law again

Author: Ryan Littlestone | Category: News

Head of the ESM on the news

  • Size of bailout fund is sufficient for Greece if it is agreed
  • Contagion risks from Greek sovereign is no longer there
  • Greek banks still oppose a risk to euro region stability
  • If Greece fails to get a 3rd bailout their banking system will collapse

Schaeuble popping up for his daily Greek digest

  • Greek implementation progress will be monitored (they did such a great job last time)
  • Debt forgiveness not possible within euro (but maybe so out??)
  • Greece needs to stick to its obligations
  • Many economists including the IMF doubt whether Greece problems can be solved without a debt haircut
  • Temporary exit would be a better path
  • No one knows how it should work without a haircut

That's a good point. It doesn't seem like anyone knows what to do with Greece and its debt load. All these measures are still just putting fingers in leaks

  • ECB and EC said Greece poses a risk for the Eurozone
  • Achieving Greek debt sustainability is difficult
  • Will not bend a single ESM rule for Greece
  • Will submit a request to parliament for further aid with full conviction
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose