European Stability Mechanism (ESM) managing director Klaus Regling on Wednesday again referred to the delay-fraught Greek adjustment program, saying Greece was a “special case”, during his comments before a relevant European Parliament committee.
European Stability Mechanism (ESM) managing director Klaus Regling on Wednesday again referred to the delay-fraught Greek adjustment program, saying Greece was a “special case”, during his comments before a relevant European Parliament committee.
Regling reminded that crisis-battered Greece was amid its third bailout, at a time when other Eurozone countries that found themselves in an adjustment program had already exited, such as Cyprus, Ireland, Portugal and Spain.
He added that the latter countries were posting high growth rates and reducing unemployment.
Nevertheless, he also praised Athens for recording substantial progress since 2014, when GDP posted a marginal increase and was looking at re-entering markets.
He bypassed the unprecedented first six months of 2015, the first half year of a leftist-rightist coalition government under PM Alexis Tsipras, merely citing "good progress" since August 2015.