New Eurogroup President Kyriakos Pierrakakis automatically assumes leadership of the European Stability Mechanism, marking a milestone that reflects both his rising European profile and Greece’s recovery from its financial crisis.

ESM and the European Financial Stability Facility (EFSF) boards agreed to waive the requirement for proportional repayment of ESM/EFSF loans.

The European Stability Mechanism (ESM) has sounded the alarm on growth prospects in the eurozone, including Greece, in a report warning that GDP growth could fall to just 0.5% by 2029 from 1.3% in 2023—unless labor productivity improves significantly. Regarding Greece and other peripheral countries in the eurozone, the study notes that in the case […]