The stabilization Fund of the Eurozone have focused 50% of the national debt of Greece

© AP Photo / Petros Giannakouris,the stock exchange in Athens, Greece. Archival photoThe stabilization Fund of the Eurozone have focused 50% of the national debt of Greece© AP Photo / Petros Giannakouris,

The European stability mechanism (ESM) and European financial stability Fund (EFSF) to provide financial assistance to Greece to avoid default, hold for about half of the total public debt of this country, said the head of ESM Klaus Regling at a press conference after the Eurogroup meeting.

The EFSF and ESM for the duration of three programs of financial support given Greece about 173 billion euros of loans, he said Regling.

«When a new tranche will be listed over the next few weeks (amounting to 7.7 billion Euro), we will keep more than half of the total public debt of Greece, which means that we are the largest creditors of Greece,» he said.

The EFSF as a temporary structure, and ESM, as a permanent, were created in the Euro area a few years ago in response to the crisis to help troubled countries in the currency bloc to avoid a default. Greece can’t get out of foreign assistance programs since 2010, now comes the third program.

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