Greece and the institutions are running on "tight deadlines" to complete the 88 prior actions required by the fourth program review, finalize talks on debt relief and discuss post-bailout supervision by August, the head of the European Stability Mechanism (ESM) Klaus Regling said in a press release after the Eurogroup meeting on Monday. 

The Managing Director of the European Stability Mechanism (CEP), Klaus Regling said today in Tokyo that it has already begun technical work to determine whether a reduction in the Greek sovereign debt will be required after the bailout programme for the Greek economy is completed later this year.

The Managing Director of the European Stability Mechanism, Klaus Regling expressed the view that Greece would successfully complete all the necessary reforms provided in the bailout programme until its expiration in August 2018.