Regling: Policy changes require green light from creditors

Regling: Policy changes require green light from creditors

Greece can use this year's improved budget numbers to change policies, as long as the government discusses them first with the country's creditors, the Managing Director of the European Stability Mechanism (ESM), Klaus Regling, said in an interview with Dutch newspaper De Telegraaf, published on Tuesday.

Asked whether he fears Greece will backtrack on its commitments after its exit from its third bailout program, Regling responded negatively.

“They have promised these reforms. The Greek budget this year is slightly better than expected. The Greek government may use that budget. If they change their policies, they must first discuss that with the European institutions. They’ve not been cut loose for 100 percent yet,” he told the paper.

Regling clarified again that the funds lent to Greece do not burden EU taxpayers, as long as the loans are being paid back.

“As long as we are being reimbursed, there are no costs for the Dutch taxpayer. Not a penny of Dutch taxpayer money has so far been spent on the Greek support packages,” he said.

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