Four years after the finalisation of the third Greek rescue package, the Eurogroup considered, on Thursday 16 June in Luxembourg, that Greece’s budgetary situation was sufficiently solid for the country to no longer be subject to the close supervision imposed on it in the summer of 2018 (see EUROPE 12958/2).
“The Eurogroup takes note that the European Commission may not prolong enhanced surveillance after its expiration on 20 August 2022”, the euro area ministers said in their statement. And to add: “The eventual expiration of enhanced surveillance, the implementation of reform commitments, the full repayment of IMF loans, and the earlier abolition of remaining capital controls will bring to a closure a challenging period since 2010”.
Considering that the Greek authorities have respected the commitments made to implement the agreed reforms, the euro area finance ministers approved the granting of a penultimate tranche of aid of €748 million, which will enable Greece to further reduce its sovereign debt burden.
Other reforms will have to be accomplished by November, notably in the fields of justice, health and land registration. They will be the subject of a first report prepared in the framework of the normal post-rescue budgetary surveillance. This report could serve as a basis for a decision on the granting of a final tranche of financial assistance, the Eurogroup notes.
See the statement: https://aeur.eu/f/265 (Original version in French by Mathieu Bion)