The European Stability Mechanism (ESM) is reportedly examining the possibility of purchasing a portion of the Greek debt held by the IMF, according to an article on Wednesday by the German daily Die Welt.
The media outlet cites a two-page document by the ESM and the fact that its managing director, Klaus Regling, is promoting a solution of repurchasing a portion of the Greek sovereign bonds held by the Fund.
Die Welt said such a prospect would translate into a significant economic benefit for Greece, given that ESM financing is offered on more favorable terms. For instance, bonds held by the IMF feature an interest rate of 3.5 percent, whereas the same interest for the ESM is 1 percent.
