21.08.2015

With the bailout programme amounting to EUR 86 billion from the European Stability Mechanism launched yesterday, Greece reimbursed today its liabilities under the short-term loan disbursed in July from the European Financial Stability Mechanism (EFSM), whereunder Bulgaria is a party.

The third rescue programme for Greece was voted yesterday by the parliaments in Germany and in the Netherlands, which has put the procedure of approval of euro zone members to an end. This has enabled the first tranche of assistance to Greece part of which had been aimed to repay old liabilities to the international creditors, among which the European Financial Stability Mechanism. The European Commission, being the institution that manages EFSM, has sent a notification to ECB confirming that the loan between the EU and the Hellenic Republic of 18 July 2015 disbursed according to Council Implementing Decision 2015/1181 to the European Financial Stability Mechanism had been fully repaid together with the interest due.

The European Financial Stability Mechanism is guaranteed by EU's general budget. In accordance with the loan granting Decision dated 18 July, the euro zone members have committed to provide the full amount of compensation to non-euro area members in case of a possible triggering of the gurantees to the EU budget. With the loan reimbursed today, there is no risk for triggering guarantees.