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Klaus Regling on ESM firepower

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Klaus Regling on ESM firepower
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ESM Managing Director Klaus Regling underlines in the EuroNews interview: “90 percent of the European Stability Mechanism’s lending capacity is uncommitted, unused, available in case of need and I think this is also reassuring for markets: a lot of firepower is left.” Regling says that “the ESM fireposer is indeed enough to finance also a large country if there is a need”. Nevertheless, “isolated voices that paint a horror scenario have been proven wrong again and again”. The ESM Managing Director calls Ireland “a real bailout sucess story”, reminding interest rates below four percent for the ten year government bonds, coming down from ten percent. Regarding Spain, Regling stresses: “From everything I know and this has been confirmed by the Spanish authorities, they will not request more money for the Spanish banks and I have not seen any indications that they want another kind of programme, I don’t think it’s needed.”