this European Commission announced on Wednesday will not extend advanced surveillance from the implementation of the reforms. post recovery Greece when your monitoring program expires next 20 augustSince Athens fulfilled “many” of its commitments with the Eurogroup in 2018, ensuring the “effective implementation” of reforms.
“As a result of Greece’s efforts, The resilience of the Greek economy has improved significantly and the risks of indirect effects on the euro area economy have been significantly reduced. Therefore, it is no longer justified to keep Greece under enhanced surveillance,” he said.
Brussels sent its decision in a letter to the Greek Government, which responded on 2 August by “turning a page in its modern history”, highlighting the progress Greece has made in recent years despite difficulties such as the pandemic or the war in Ukraine. .
“Normal financial situation”
“Greece has made significant progress and as a result has reverted to its former state. normal financial situation. We are ready to continue on this path for the benefit of all our citizens and future generations, and for the stability and prosperity of our Union,” said Greek Finance Minister Christos Staikouras.
Brussels Will continue to monitor the economic situation of Greece in the framework of the post-alignment program oversight and the European Semester, which monitors economic milestones in all Member States.
“The Commission welcomes the achievements of Greece and its determination to continue to carry out reforms beyond the end of enhanced supervision,” Brussels said in a statement. said.
8 years of aid and reforms
Eurogroup closed the third bailout package for Greece in June 2018. Ending eight years of unprecedented aid and reform for AthensThe most visible face of the financial crisis in Europe.
During the previous eight years, Greece, radical reforms in the labor system, tax, social security, pension or public administrationIt has carried out privatizations, deep financial adjustments and restructuring of the banking sector, with great sacrifices from today’s European-recognised population.
This allowed it to go from recession (GDP fell 5.5% in 2010) to 1.4% growth in 2017 and from deficit (11.2%) to surplus (0.8%).
However, its GDP fell by 25% and unemployment, which is the highest in the EU (20.1%), and the decline in non-performing loans continues.
Source: Informacion
