Klaus Regling

Greek newspaper ‘Ta Nea’ cite an EU source, according to which negotiations on a possible Greek relief will take place only if a government with a strong mandate emerges after the September 20 elections.

European Stability Mechanism (ESM) managing director and EFSF CEO Klaus Regling on Thursday dropped his own “bomb shell” by pointing to the IMF’s participation in the latest Greek bailout as absolutely necessary.

 The European Stability Mechanism’s (ESM) board of governors on Wednesday evening approved Greece’s latest bailout plan, the third since 2010.

The Board of Directors of the European Financial Stability Facility (EFSF) decided on Friday to opt for a Reservation of Rights on EFSF loans to Greece, after the non-payment of Greece to the International Monetary Fund (IMF).

By Nikos Chrysoloras

Greek officials and creditor institutions are locked in talks for another weekend as both sides work against a payment deadline to avert default and a euro-region exit.

European Stability Mechanism head, Klaus Regling has stated that Greece has little time to convince its creditors of the necessity for additional funding.

By Ian Wishart

Talks on resolving Greece?s financial crisis must ?intensify? if euro-area finance ministers are to be able to assess the country?s reform commitments when they meet next week, the European Commission said.

Greece and its eurozone partners should be able to come to a deal on the country's funding needs because everyone wants it to stay in the currency area, the head of the monetary union's bailout fund said in an interview with Le Monde published on Monday.

European officials are concerned that not enough preparation work is being done to pave the way for Greece to submit six reform proposals to Monday?s Eurogroup and then secure part of the 7.2 billion euros in remaining bailout loans.