COMMENT

Greek adjustment program is working, insists ESM's Regling

By Nikos Chrysoloras

BRUSSELS – “The Greek population and the government should know that help will be forthcoming, if Greece also does its part of the deal, continues to implement reform,” says Klaus Regling, the managing director of the European Stability Mechanism (ESM), in an interview for Kathimerini and Skai TV’s “New Folders” news program. The man in charge of running the gigantic eurozone support funds, which were set up in response to the debt crisis, assures that European taxpayers neither lose nor make any money from the Greek program. In fact, the European Financial Stability Facility (EFSF) and the ESM charge Greece exactly the same interest on its loans as their financing costs. Regling also defends the Greek adjustment program, and claims that the “strategy is the right one, and the strategy is working, because there is progress.”

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