Greece to exit EU enhanced surveillance framework
(VOVWORLD) - Greece’s Finance Minister Christos Staikouras said Wednesday that Greece will exit the European Union’s enhanced surveillance framework on August 20. Greece, after 12 years, will no longer be an exception in the eurozone, Staikouras said.
 Illustrative photo (Source: realinstitutoelcano.org) |
Athens has delivered on the bulk of the policy commitments and reforms it promised, and its August 20 exit from the framework was confirmed by a letter from EU Commission Vice President Valdis Dombrovskis and Economy Commissioner Paolo Gentiloni.
In August 2018, the European Stability Mechanism (ESM) announced that Greece was officially free from its dependence on bailout packages that totaled almost 266 billion USD in 8 years. Since then, the EU has implemented an enhanced monitoring framework to ensure that Greece continues to take measures to address the causes of difficulties and implement structural reforms to promote sustainable economic growth.