June 4, 2020 / 7:35 AM / 2 months ago

Greece does not need to tap ESM credit line- finmin

ATHENS, June 5 (Reuters) - Greece has no need to tap the euro zone’s pandemic credit line at present, Finance Minister Christos Staikouras said on Friday.

“Based on current data, Greece does not need to resort to the ESM’s (European Stability Mechanism) credit lines since the government has made and continues to make prudent use of the country’s own resources,” he told an Economist conference.

Euro zone finance ministers in May signed off on the details of cheap, long-term credit lines to be made available by the ESM to countries that need cash to cover extraordinary health costs caused by the coronavirus outbreak. (Reporting by Lefteris Papadimas; editing by John Stonestreet)

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