On Monday 23 January, the European Stability Mechanism (ESM) formally adopted the short-term Greek debt relief measures which were the subject of a political agreement between Athens and its institutional creditors in December 2016.
The measures approved should lead to a "cumulative reduction of Greece's debt-to-GDP ratio of around 20 percentage points until 2060 (and to) Greece's gross financing needs falling by almost 5 percentage points in the same time horizon", said the executive...