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Launch of EFSF/ESM Financial Assistance Evaluation Report
Seminar organised by the Centre for European Policy Studies (CEPS), Brussels
11 July 2017
Speakers:
Gertrude Tumpel-Gugerell, Independent Evaluator and former ECB Board member
Rolf Strauch, ESM Chief Economist
Transcript of remarks by ESM Managing Director Klaus Regling
Eurogroup press conference, 10 July 2017
Introduction on Greece and Ireland
Luxembourg – The Board of Directors of the European Stability Mechanism (ESM) today approved the third tranche of €8.5 billion of ESM financial assistance to Greece. This follows the approval of the Supplemental Memorandum of Understanding by the ESM Board of Governors and the Greek government’s completion of all prior actions last Wednesday.
The first disbursement under this tranche will amount to €7.7 billion, and is expected to be made by the ESM on Monday. Out of this amount, €6.9 billion will be used for debt servicing needs and €0.8 billion for arrears clearance.
Jaroslav Baran is a Senior Portfolio Manager in the Investment & Treasury Division at the European Stability Mechanism (ESM). Previously, he worked as a Funding Officer at the ESM and Treasury Dealer at the Czech Export Bank in the Czech Republic.
He holds a PhD in Finance from the University of Economics in Prague and a MSc in Financial and Actuarial Mathematics from Charles University in Prague.