ESM increases pressure for reforms

Pressure is growing on Greece to promote reforms where the creditors have identified delays, as the timely completion of the fourth review and the smooth emergence from the bailout program are at risk.

On Tuesday, on the occasion of the decision by the European Stability Mechanism (ESM) for the disbursement of the subtranche of 5.7 billion euros to Athens, the body's Managing Director Klaus Regling issued a reminder that Greece's successful exit from the program requires the implementation of reforms.

"The fourth and final review of the program has already started and I am confident that Greece is on the right track to successfully exit the ESM program in August 2018, provided that the remaining reforms are implemented by the Greek government," he stated.

It followed the comment by a eurozone official in reference to reforms, particularly the privatizations, that ...