Sentences with phrase «european stability mechanism»

The IMF analysis states that «the dramatic deterioration in [Greece's] debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date — and what has been proposed by the ESM [the European stability mechanism ie by eurozone member states]».

«We know time is critical for Greece, but there are no shortcuts,» said Klaus Regling, the official in charge of the European stability mechanism — the eurozone's permanent bailout fund that Greece hopes to tap.