Greece's Bailout Costs Could Rise Over Life of Loans, ESM Says
- Interest charges of 1% could increase with higher market rates
- ESM CFO Frankel comments on rescue funding costs in interview
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Like a fine wine, Greece’s bailout could get more expensive as it ages.
The European Stability Mechanism has so far charged Greece about 1 percent on the funds released from the 86 billion-euro ($98 billion) bailout that Prime Minister Alexis Tsipras won in August. Those costs aren’t locked in for the life of the loan though, ESM chief financial officer Christophe Frankel said in an interview.