The European official underlined the need to form a functional government as soon as possible in order to continue with the application of the agreed reforms.
When asked about the possibility of a Grexit, Mr.Regling stressed: “it is not a scenario on which we are currently working although, in theory, it is always a possibility”.
The head of the ESM went on to explain that the results of the reforms that were implemented during the period 2010-2014 are already traceable in rates of unemployment and growth.
Concerning the debt, he clarified that there is no possibility to reduce it in absolute numbers but he went on to explain that the debt could become viable with other methods like the elongation of payment periods and the reduction of interest rates.
Finally, Mr.Regling expressed his certainty that the IMF would participate in the third bailout program.