Klaus Regling

German Finance Minister Wolfgang Schaeuble on Wednesday evening doused hopes for strong measures to ease Greece's debt, although earlier his Greek counterpart Euclid Tsakalotos and European Stability Mechanism chief Klaus Regling had met to discuss measures to reduce the country's arrears.

“Greece is not close to any default. We are working to conclude the review and avoid problems of last year” said director of the European Stability Mechanism (ESM) and CEO of the European Financial Stability Facility (EFSF), Klaus Regling.

A review of Greek reforms required to release further financial aid to the debt-strapped country is ongoing but the process has been difficult, said the head of the European Stability Mechanism Klaus Regling.

“We are still reviewing, but it’s not easy. There is still a range of issues,” said Mr. Regling at a Council on Foreign Relations roundtable discussion.

President of the European Stability Mechanism (ESM) Klaus Regling said in an interview with French Le Figaro that although he sees signs of improvement regarding the relations between Greece and its international creditors, Greece will face financial problems sooner or later.

European Stability Mechanism (ESM) fund chief, Klaus Regling, and Euro Working Group (EWG) head, Thomas Wieser, both maintain that Greece cannot remove the International Monetary Fund (IMF) from its economic bailout on Sunday. Regling added that the possibility of a Greek eurozone exit remains if reforms are not made.

Klaus Regling, the head of European Stability Mechanism (ESM), expressed his optimism that Greece can be a success story, if it sticks to the plans to reform its economy through Twitter.

European Stability Mechanism (ESM) General Director Klaus Regling told MEPs of the European Parliament’s Committee on Economic and Monetary Affairs that member states will monitor the progress of Greek reforms and will decide on whether there will be discussions on further debt relief. He made it clear that a haircut on nominal debt for Greece wasn’t on the cards.

Greece’s Finance Minister Euclid Tsakalotos will represent Greece at the annual IMF-World Bank meeting in Lima, Peru on October 9-11 and have a series of important meetings.

Klaus Regling, managing director of the European Stability Mechanism, said to Financial times that Greece will not be granted large-scale debt relief adding that Greece was already benefiting from generous loan terms that were the most concessionary “in world history”.

European Stability Mechanism (ESM) Managing Director Klaus Regling said the scenario of a ‘Grexit’ had not completely disappeared in an interview to Slovenian newspaper ‘Delo’. Regling underlined that the composition of the Greek government was not the key matter, as long as the measures and reforms agreed were implemented.