BUSINESS

Greece needs 'far less' money than agreed in third bailout, ESM head says

TAGS: Economy

Greece will need less in emergency loans from international lenders than originally agreed in its third bailout program due to a better-than-expected budgetary development, the head of the euro zone bailout fund said in comments published on Monday.

Klaus Regling told German newspaper Bild that at the end of Greece's money-against-reforms package in August 2018, the European Stability Mechanism (ESM) will "probably have paid out far less than the agreed maximum amount of 86 billion euros" because the Greek budget was developing better than expected.

The comments came shortly before euro zone finance ministers will meet in Brussels to assess Greece's progress in fulfilling the conditions of its bailout.

[Reuters]

 

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