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Klaus Regling
ESM Managing Director
Einführung bei der Bundespressekonferenz
Berlin, 27. August 2015

Guten Morgen, sehr verehrte Damen und Herren.

Ich bedanke mich bei der Bundespressekonferenz für die Einladung, über die Aktivitäten des Europäischen Stabilitätsmechanismus zu sprechen. Ich vermute, dass Sie das neue ESM-Programm für Griechenland besonders interessiert. Das Programm wurde am 19. August nach der Billigung durch den Deutschen Bundestag von den Euro-Finanzministern im ESM-Gouverneursrat beschlossen.

Luxembourg – The European Stability Mechanism (ESM) approved the first tranche of financial assistance for Greece of €26 billion. This decision follows the ESM Board of Directors’ approval of the Financial Assistance Facility Agreement (FFA), specifying the terms of financial assistance for Greece. The Board also decided to immediately disburse €13 billion to Greece.

Luxembourg – The Board of Governors of the European Stability Mechanism (ESM) approved today the ESM Managing Director’s proposal for a Financial Assistance Facility Agreement (FFA) with Greece. Under the terms of this agreement, which the ESM Board of Directors also approved on Wednesday, the ESM will provide up to €86 billion in financial assistance to Greece over three years. The FFA is the ESM’s loan contract with Greece, which ESM Managing Director Klaus Regling and the Greek Minister of Finance Euclid Tsakalotos will sign.

Luxembourg – The European Stability Mechanism (ESM) has promoted Juan Rojas to Head of the Economics and Market Analysis division. Since Mr Rojas joined the ESM in April 2013 as Senior Country Economist, he has been promoted to Deputy Head of Economics and Market Analysis in 2014.

Luxembourg – The European Stability Mechanism (ESM) has promoted Cosimo Pacciani to the position of Chief Risk Officer, responsible for Risk and Compliance. Since May 2014, Mr Pacciani had been working as Deputy Head of Risk at the ESM.  

Luxembourg – The European Stability Mechanism (ESM) has appointed Leticia Lucas to the position of Head of Internal Audit. For the past two years, Ms Lucas has been senior internal auditor at the ESM. By creating a Head of Internal Audit position, the ESM recognises the importance of this function for the control framework of the institution.

Luxembourg – The European Stability Mechanism (ESM) conducted today a €2 billion tap of a €3 billion bond issued on 7 May 2014 with a coupon of 0.875%, maturing on 15 October 2019. This tap brings the total size of the issue to €5 billion. 

The issuance spread at reoffer was fixed at mid swap minus 16 basis points. This implies a reoffer yield for investors of 0.17%. Deutsche Bank, Morgan Stanley and Nomura acted as lead managers for the tap. The transaction attracted strong demand from investors worldwide.

Luxembourg – The Board of Governors of the European Stability Mechanism (ESM) approved today a decision to grant, in principle, stability support to Greece in the form of a loan programme. This decision follows the completion of national procedures that involved parliamentary approval in some of the ESM Member States. The basis for the Board of Governors’ approval was the assessment by the institutions and the proposal by ESM Managing Director Klaus Regling.