The ESM approves the short-term measures for the Greek debt

The ESM has adopted the measures for the greek debt. According to an announcement the measures will help the debt become more viable and that could lead in the future to a decrease of even 20% by 2060.

The three measures are:
– The exchange of fluctuating interest bonds with others with a stable interest
– The second is that the ESM will be allowed to take part in swap deals that will stabilize the funding cost of Greece, in order to protect her when interests will start to increase.
– The third, known as matched funding will be with the issue of bonds that will follow the way Greek loans mature and with ESM charging stable interest to future payments to Greece.