Klaus Regling

Greece will be monitored more closely by the European Stability Mechanism (ESM) and the other institutions after its bailout ends six days from now compared to other countries that emerged from rescue programs, according to ESM chief Klaus Regling.

European Stability Mechanism chief Klaus Regling issued a new clear warning to the Greek government that if it deviates from the course of reforms, the debt-easing measures decided last month will be suspended.

The European Stability Mechanism's board of directors on Friday approved, in principle, the release of the final bailout tranche to Greece, worth 15 billion euros. 

In a statement released on Friday, the ESM's board said that the sum would be disbursed to Greece "subject to the completion of national procedure." 

Greece is on course to economic recovery after reaching the end of its third bailout in eight years next month, but SYRIZA's first term in power with then finance minister Yanis Varoufakis cost the country "billions," European Stability Mechanism (ESM) chief Klaus Regling said.

Despite appearances, the government has actually assured European Stability Mechanism (ESM) Managing Director Klaus Regling that it will not go back on its commitments, the eurozone official revealed on Friday after his meeting with Finance Minister Euclid Tsakalotos.

Greece has succeeded in consolidating fiscal deficits and implemented reforms, but it still needs to do "more work" to strengthen its economy, the head of the European Stability Mechanism (ESM), Klaus Regling, said in an interview with Spanish newspaper Cinco Dias, published on Thursday.

European Stability Mechanism chief Klaus Regling this week drew a parallel between Greece and postwar Germany, which only finished paying off its obligations from the 1953 London Agreement in 2010, while arguing that if the extension of the loans to Athens is sufficient - and the annual cost of servicing the debt does not exceed a certain amount - then they will be repaid.

European Stability Mechanism Managing Director Klaus Regling has urged eurozone governments to overcome differences over single currency reforms or "risk having to wait for the next crisis."

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.

Greece will probably not need a precautionary credit line after its bailout ends in August if the country sticks to reforms, the head of Europe's rescue fund said in an interview released on Saturday.