The chief of the European Stability Mechanism (ESM) Klaus Regling claimed that the Greek government has not yet submitted a coherent list of reform proposals, in an interview for Portuguese newspaper Diario de Noticias.

Mr. Regling also hinted towards further financial aid being made available to Greece, claiming that help towards addressing its debts in the short-term may be necessary, since access to the markets is not yet possible. The ESM chief noted though that the European partners want a detailed, comprehensive list of reforms, which will allow Greece to return to a sustainable situation, before dispensing any further aid.

When asked how much this additional aid may amount to, Mr. Regling responded that the European institutions are currently evaluating the situation and have yet to determine the funding gap that would been to be covered. Nevertheless, he was confident that an agreement would soon be reached.

The ESM chief underlined that the Greek government has so far implemented everything it has committed to, such as making payments towards the EFSF and the IMF.