European Stability Mechanism (ESM) managing director Klaus Regling on Thursday again reiterated that debt relief measures for Greece would be implemented within the year.
European Stability Mechanism (ESM) managing director Klaus Regling on Thursday again reiterated that debt relief measures for Greece would be implemented within the year.
In an interview carried by the daily “Les Echos”, Regling said “we are working on short-term measures for debt relief, which will definitely be implemented before the end of the year.”
He also promised that European taxpayers would not foot the bill for such measures.
“There will not be additional burdens on (eurozone) countries’ budgets,” he added.
Regling nevertheless admitted that an “indirect liability” would arise, as proposed longer maturities essentially bump risks of non-payment of bonds into the future.
“From this standpoint, truly, there is an indirect cost,” the French financial daily reported him as saying.