Greece? Is that still around?

(Attention Greeks - apologies for that. I know, not funny. Greece has been around a lot longer than my place. Happy Australia day! :-D)

Comments from head of the European Stability Mechanism, Klaus Regling

  • Greek debt hair cut is not an option for debt reprofiling
  • Extending debt maturities, deferring interest are options for Greek debt reprofiling
  • Nothing decided on Greek debt, will be discussed after completing review of Greek reforms

More detail:

  • Greece must complete the first review of its progress on structural reforms before deciding on how to restructure its sovereign debt
  • Reforming the ailing pension system is a prerequisite for the conclusion of the first review of Greece's 86 billion euro bailout agreed in July last year

via Reuters

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  • The European Stability Mechanism (ESM) is a European Union agency
  • It provides loans to eurozone countries in trouble (and also provides new capital to banks in difficulty)