Eurogroup approves Greek exit from enhanced economic surveillance

·

Eurozone finance ministers on Thursday accepted a recommendation by the European Commission to end Greece’s enhanced economic surveillance, stating that the country has “successfully delivered the bulk” of its policy commitments.

Greece’s enhanced surveillance began in 2018 after the country exited its third and last bailout. During that time, Greek economic developments and policies have been monitored under the Eurozone’s enhanced surveillance framework.

“This, combined with the earlier abolition of capital controls and the full repayment of the IMF loans, would restore conditions of normality in Greece for the first time since 2010,” the Eurogroup said in a statement.

The approval also opened the way for the release of the seventh tranche of policy-contingent debt measures, worth 748 million euros.

In a written statement, Greek Prime Minister Kyriakos Mitsotakis said: “Greece and the Greeks are welcoming, today, an important national success: our economy is now liberated from the regime of enhanced surveillance, with Eurogroup’s seal.”

“This closes a painful cycle that opened 12 years ago,” he said.

Looking forward, the PM believes the decision has opened “a new era of autonomous choices” for “the development of the country and the well-being of its citizens.”

“After the lifting of capital restrictions and the repayment of IMF loans, the third goal set by the government from the beginning is achieved: the recovery of the [country’s] investment grade that unlocks even more opportunities for prosperity for all,” he concluded.

SOURCE: Ekathimerini

Cretan Convention - Web Banner

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

From family legacy to the Federal Court: A look into Justice Anastasis Liveris’ legal career

In an exclusive interview with The Greek Herald, the Greek Australian judge reflected on how he felt to achieve this major career milestone.

The Greek influence on Australian television

Among the many communities that helped shape TV culture were Greeks, whose presence both on and off screen left a lasting mark.

Critically endangered monk seal welcomes newborn on Karpathos island

The first Mediterranean monk seal (Monachus monachus) birth of 2025 has been confirmed on the island of Karpathos.

Campaigners celebrate as Milos luxury hotel project is halted

Environmental activists have welcomed the suspension of a controversial five-star hotel project on Milos’s world-famous “moon beach”.

Historic first: Greek chess player defeats reigning world champion

For the first time since the official establishment of the chess world championship, a Greek player has beaten the sitting world champion.

You May Also Like

Marietta Giannakou elected Vice President of the NATO Parliamentary Assembly

Following Ms Giannakou's election, the newly elected VP said she is confident the assembly will achieve its three goals set by Secretary General Jens Stoltenberg.

Sydney councillor Angela Vithoulkas threatens to resign after exclusion from ‘post-pandemic vision’

“What I won’t stand for anymore is the disrespect I feel has been delivered yet again to myself and the small business community within the City of Sydney," Vithoulkas said in an email to the Lord Mayor.

St George Saints’ comeback cut short by star studded Dolphins side

Fresh from a week off following the long weekend, St George Saints Mens White team hit the road to face the Port Macquarie Dolphins.