Commission spokesperson Mina Adreeva told a press conference on Monday 1 August that the institution considers that the Greek debt relief measures agreed upon at the Eurogroup meeting of 22 June in the framework of the country's exit from the third and final financial bailout plan (see EUROPE 12046) were “sufficient”, according to the economic assessment carried out by the European Stability Mechanism, the European Central Bank and the Commission.
Andreeva was asked about the Commission's reaction to the publication the day before of a report by the International Monetary Fund (IMF) concerning Greece under article IV of its statutes (see EUROPE 12074). This document expresses considerable scepticism as to the long-term sustainability of the Greek debt in light of the debt relief measures agreed upon and the IMF's economic forecasts up to 2060.
The Commission spokesperson responded that the institution had “taken note” of this report, but stressed the IMF's “pessimistic” vision in the framework of its economic forecasts, adding that in the past, these had been revised upwards several times, including those for Greece. On the basis of studies carried out upstream of the June Eurogroup meeting, therefore, the Commission considers that the debt measures are appropriate at this point.
Andreeva nonetheless reiterated that the agreement of 21 June includes a revision clause, which will allow the various parties to take stock of the viability of the Greek debt in 2032, so that they can consider whether new measures should be set in place.
Finally, she announced that the Commission looked forward to Athens' departure from the third bailout plan, which will take effect on 20 August, “with confidence”. (Original version in French by Lucas Tripoteau)